Alliance & Leicester to increase SME lending
by David Masters
Alliance & Leicester (A&L) has announced plans to increase lending to small business (SME) customers by more than 25% this year.
Increased lending will “help customers to stabilise their business finances,” the bank said.
The announcement follows a 49% increase in small business lending by the Santander-owned bank during 2008; in the past three years A&L has given financial support to over 100,000 small businesses.
Steve Pateman, managing director of corporate and commercial banking at A&L, said: “In the current economic climate, cashflow is the key to business survival and we are committed to increase lending balances further in 2009.”
He added: “Business conditions are tough and customer feedback shows that small business owners are feeling the pinch.
“I would urge businesses to review their banking needs as a matter of priority to make sure they are getting value for money and a service that reflects their needs.”
Overall SME lending at Santander increased 30% on year during 2008.
Discuss this in the Finance Markets forums
Story link: Alliance & Leicester to increase SME lending
Add to Bookmarks:
Related financial stories to: Alliance & Leicester to increase SME lending
- Alliance & Leicester reports 30% fall in profits
- Santander to boost UK presence with Alliance & Leicester takeover
- Alliance & Leicester launches new Super Saver
- Alliance & Leicester in £391m write-down
- Alliance & Leicester says profits grew 7 percent last year
- Alliance & Leicester shares soar after takeover talks resume
- Best loan rates from the Alliance & Leicester
- Alliance & Leicester forced to calm fears
- Current account for over 50s launched by Alliance & Leicester
- Alliance & Leicester – new Visa card
Tags: Alliance & Leicester, cash flow, lending, Santander, small business, SME
Previous: « HSBC announces profits down 62% as it taps investors for £12.5bn
Next: Skipton profits plunge 86% »
Visited 347 times, 1 so far today
