Lloyds pledges to help 300,000 start-ups as part of 2012 Charter
LLOYDS Banking Group has pledged to further support small firms with the launch of its 2012 SME Charter.
The new Charter covers business customers across both Lloyds TSB and Bank of Scotland and includes measures to help 300,000 new SME start-ups by 2012.
It sets out a range of commitments to help stimulate demand and boost access to finance for SMEs, provide guidance to help businesses grow successfully and clarify the terms on which the group will lend to its customers.
The measures will benefit all of the group’s customers with a turnover of up to £15m.
The programme will feature 200 nationwide seminars every year for the next three years to provide guidance and support for SMEs on starting-up, employment, exporting, bidding for contracts, sustainability and finance.
The group has also pledged to do its best to support any “viable” business through temporary difficulties and into recovery.
In addition, the bank will meet every “reasonable request” for competitive commercially-priced finance (whether short-term or long-term) from viable business customers.
John Robson, regional director for Lloyds TSB Commercial in the North and Midlands, said: “Just as Yorkshire businesses needed support during the depths of the downturn, it is critical that we give them the right guidance and help them grow as the momentum of recovery starts to build.
“There is no doubt that business optimism is the foundation of any economic upturn and through the pledges we have set out today, to encourage enterprise, boost access to finance and provide clearer and fairer pricing, we hope to give businesses across the country the confidence they need to grow and lead the UK out of recession.”
Professor Russel Griggs, chairman of the SME council for the CBI, said: “Understanding how credit is provided is fundamental to all SMEs. Anything that increases that transparency and understanding is welcome because SMEs can then work more closely with banks to change or further enhance their business and address any concerns.
“This new customer charter is a welcome step and will also hopefully encourage more dialogue between banks and SMEs as well as understanding of each other’s challenges and opportunities.”
