LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

Britain's Lloyds launches 500 million sterling fund for small companies

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Oct 24, 2017
06:07 am
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Lloyds Banking Group opened a 500 million pound ($658 million) fund to help British businesses finance equipment on Tuesday, targeting small and medium-sized companies which banks froze out of credit following the financial crisis.

The bank said the fund will deliver quick access to finance by allowing companies to spread the cost of assets over their lifetime, enabling big investments that don`t eat into working capital.

The government sees small- and medium-sized companies as key to unlocking higher productivity, which has fallen back to below pre-crisis levels this year, and to the success of the UK economy post-Brexit.

These businesses have struggled to invest in the decade since the financial crisis as banks have shied away from lending to smaller businesses.

The Lloyds fund will be open to businesses of all sizes, but the bank said it would be of particular benefit to SMEs and mid-market companies in sectors with high and regular requirements for expensive assets, such as manufacturing and agriculture.

The bank is trying to boost its support for start-ups, smaller firms and productivity, including by increasing its net lending to SMEs by 2 billion pounds in 2017 - a target it missed last year by around 400 million pounds last year.

Out of more than 40 participating banks and building societies, it has drawn by far the most under an extended Bank of England scheme to encourage more lending, with the extension from 2014 until January 2018 focused on boosting lending to SMEs.

According to BoE data published in September, Lloyds had drawn 23 billion pounds under the extension followed by Santander, with 3.18 billion pounds.

But HSBC and CYBG , which do not participate in the BoE`s scheme, launched larger funds solely for SMEs this year, worth 10 billion pounds and 6 billion pounds, respectively.

A government drive to increase small businesses` access to credit has seen improvements, but many still report difficulties.

In a survey of over 3,000 SMEs globally, published by American Express in February, 57 percent of UK respondents said they struggled to access the finance needed to grow their business.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Stock market: Record-shattering gains, 50k BSE peak - What lies ahead? Analysts predict these big things amid Budget 2021

Recovery of excess pension made to pensioners: Big decision! Important notification by RBI

Check Modi government's latest notices to Chinese apps including Tiktok, PUBG mobile game

Policy proposal for employment generation, scale-up in MSME sector

Nearly Rs 10 lakh fine on wedding organiser for breaching Covid-19 lockdown; many guests left as police arrived

Budget 2021 Expectations: Mobile industry raises demand for GST rate cut in Union Budget 2021-2022

Budget 2021 Expectations LIVE: Here is what India wants - Check latest news, updates, demands here

Rs 5, 10 and 100 news: Will old notes be valid after March 2021? Here is truth from Modi government

Bullet Train: Undersea tunnel! Here is latest news update on Mumbai-Ahmedabad High Speed Rail

Policy reforms, sops and tax breaks? Volatility in key stock markets set to flare up as investors bet big on Budget 2021

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved