Allied Irish targets owner-managed firms with £50m fund

LENDER Allied Irish Bank (GB) says it has ring-fenced £50m for owner- managed businesses looking to grow in its North and West regions.
 
Lending will be led out of the bank’s branches in Liverpool, Manchester, Preston and Cardiff.

Head of GB Business, Gerard O’Keeffe said: “Many business lending initiatives are failing to connect in the UK because banks are not taking into account the diversity of the so called SME sector.

“We deliberately made this a targeted programme because we know Owner Managed Businesses especially well, and as the engine of the economy, we want to make it as easy as possible for them to access capital and expand their businesses.”

Regional director, Dominick O’Grady added: “We’re seeing an uplift in demand from companies who seem increasingly confident about the outlook for growth.

“While it may be too early to say the tide has turned, we’re experiencing a steady rise in enquiries for financing support across many local business sectors including healthcare, leisure, professional services and manufacturing.”