Bank to lend up to £2.5bn to Midlands businesses

Jo Harris

Lloyds Bank is set to make £2.5 billion available to businesses in the Midlands.

The funding is part of an £18 billion pot the bank is opening up to companies across the UK this year.

Entrepreneurs looking to start a new business, micro-businesses seeking to scale-up and small businesses considering trading internationally for the first time are all invited to apply for a share of the cash.

The money will also be made available to established mid-sized businesses and large, multinational corporations seeking further growth.

Jo Harris, Lloyds Banking Group ambassador for the Midlands, said: “Many Midlands businesses are thriving, with plenty of exciting opportunities in the pipeline too. Continued investment in the Midlands Engine, and regeneration projects underway across the region, are just two things that will help to drive business growth this year.

“We anticipate lending up to £2.5 billion to Midlands firms in 2020, as they take advantage of the prospects ahead.”

António Horta Osório, chief executive of Lloyds Banking Group, added: “In 2020, our commitment to supporting businesses is undiminished and we will lend up to £18 billion to businesses across the UK. We know that during uncertain times our customers look to us not just for financial support but also for expert guidance to navigate the challenges they may face. Whatever the future brings, we will continue to support UK businesses as part of our commitment to help Britain prosper.”

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