Our commitment to businesses in Yorkshire
In 2020, the Group expects to support firms in Yorkshire with up to £1.4 billion of lending this year, highlighting its commitment to be by the side of British business whatever the future brings.
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.
This new lending commitment for 2020 follows on from the Group’s pledge in 2019, also for £18 billion lent nationally and £1.4 billion available to firms in the region. . Despite the continuing challenging economic environment, the Group is not lessening its backing for British businesses and is on hand to support their growth aspirations.
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 them to redevelop an old textile mill and create new studio space for lease to local artists. It now has 50% more capacity for its occupants, which includes sculptors, painters, illustrators and other specialists.
There were many triumphs for Yorkshire businesses during 2019 despite the challenging external environment. South Yorkshire’s burgeoning 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 £1.4 billion to businesses across Yorkshire this year as they take advantage of the prospects ahead.
Catherine Rutter, Lloyds Banking Group Ambassador for Yorkshire and Humber
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HELPING BRITAIN PROSPER
We’re by the side of British business.
That’s why, in 2020, we’ll be lending up to £18bn to businesses across the UK.
During uncertain times for our customers it is important they have the financial support and expert guidance to navigate the unique challenges they may face.
Whatever the future brings we will continue to support UK businesses.
This is one of the ways we’re helping Britain prosper.
Find out more: How we're helping Britain to prosper
All lending is subject to status. £18bn figure relates to cumulative Lloyds Banking Group gross lending figure to Start-ups, SME and Mid-Market businesses available in 2020. Information correct as at January 2020. We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk. The Standards of Lending Practice apply to businesses which have an annual turnover of no more than £6.5 million. Lloyds Banking Group is a financial services group that incorporates a number of brands including Lloyds Bank. More information on Lloyds Banking Group can be found at lloydsbankinggroup.com