£1.4bn lending commitment for Yorkshire businesses
As part of Lloyds Banking Group’s national pledge to lend up to £18bn to UK businesses in 2020, the Group expects to support firms in Yorkshire with up to £1.4bn of lending this year.
The funding is available to firms across Yorkshire and will support entrepreneurs looking to start a new business, micro-businesses seeking to scale-up and small businesses considering trading internationally for the first time. It will also support established mid-sized businesses and large, multinational corporations seeking further growth.
Catherine Rutter
This newest lending commitment for 2020 follows on from the Group’s pledge in 2019, also for £1.4bn available to firms in the region.
Part of that money saw Lloyds Bank support the Sculpture Lounge last year, a family-run Holmfirth arts centre. A £375,000 finance package enabled the enterprise to redevelop an old textile mill and create studio space for lease to local artists.
It now has 50% more capacity for its occupants, which includes sculptors, painters, illustrators and other specialists.
Catherine Rutter, Lloyds Banking Group ambassador for Yorkshire and Humber, said: “There were many triumphs for Yorkshire businesses during 2019 despite the challenging external environment.
“South Yorkshire’s bourgeoning advanced manufacturing sector, and Leeds’ growing media might, are just two examples of exciting developments in the area which will help create great opportunities for the region’s businesses in 2020.
“We anticipate lending up to £1.4bn to businesses across Yorkshire this year as they take advantage of the prospects ahead.”
António Horta Osório, chief executive of Lloyds Banking Group, said: “In 2020, our commitment to supporting businesses is undiminished and we will lend up to £18bn 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.”
