government investment

Bank

Small firms benefit from Bank Bail-out

Small businesses will have better access to finance from Lloyds TSB, HBOS and Royal Bank of Scotland (RBS), following the Government’s £37 billion bank bail–out. The Government investment comes with the condition that the three banks maintain the availability of competitively–priced lending to homeowners and to small businesses. The agreement also includes NatWest, which is owned by RBS. The terms of the bank capitalisation also require Lloyds TSB, HBOS and RBS to restore small business lending to 2007 levels. The Chancellor, Alistair Darling said: “There will need to be a strong focus at these recapitalised banks on making lending available for small business and homebuyers. These conditions are set out in the individual agreements with the banks.” The ... »