AS PART of Lloyds Banking Group’s national pledge to lend up to £18 billion to UK businesses in 2020, the Group expects to support firms in Yorkshire with up to £1.4 billion 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 (pictured), 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 £1.4 billion to businesses across Yorkshire this year as they take advantage of the prospects ahead.”

During 2019, as well as supporting British businesses’ growth aspirations, the Group assisted its customers in becoming more sustainable. The Group is on course to meet its ambitions to support existing and new customers with energy efficiency improvements for a further one million square feet of commercial real estate as well as delivering renewable energy projects capable of powering 3.5 million homes by 2020.

To support customers on their sustainability journey, over 450 Lloyds Bank relationship managers have undertaken intensive training on climate change and sustainability-related risks and opportunities in collaboration with the Cambridge Institute for Sustainable Leadership. The Group is putting sustainability at the heart of our relationship teams’ support for businesses.

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.”