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£1.7billion worth of lending announced for East of England businesses

16 Jan £1.7billion worth of lending announced for East of England businesses

As part of Lloyds Banking Group’s national pledge to lend £18billion to UK businesses*, the Group expects to support firms in the East of England with up to £1.7billion** of lending during 2019.

As part of the Group’s continued commitment to help British businesses prosper, today’s announcement underlines to existing and new businesses across the East of England that the Group is committed to supporting businesses through 2019 and beyond.

The £1.7billion is available to firms across the East of England and will support entrepreneurs looking to start-up 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.

Last year, Lloyds Banking Group supported Hightown Housing Association, which owns 6,300 affordable homes across Hertfordshire, Bedfordshire and Buckinghamshire. The association secured a £60million loan from Lloyds Bank Commercial Banking which will help to fund its development pipeline of over 2,000 new affordable homes in the next five years.