Lloyds pledges support for 300,000 business start-ups
by Gill Montia
Lloyds Banking Group has promised to help 300,000 of the UK’s small and medium-sized business start-ups by 2012.
Under a new charter, SMEs should see increased access to finance and more competitive pricing.
Following continued criticism of the amount lent to small firms by the state-supported Lloyds and Royal Bank of Scotland, the group has pledged to “meet every reasonable request for competitive, commercially priced finance from viable business customers”.
In addition, business borrowers who keep to their overdraft limits will not see their facility withdrawn during the terms of their agreements.
The bank will also earnestly support businesses struggling in the recession and has plans to increase the number of seminars it runs in this respect, from next year.