Alliance and Leicester bank reveals lending to small business customers
increased significantly in 2008
Alliance & Leicester Commercial Bank has announced that it plans to increase its total lending to small business customers by over a quarter in 2009. This follows record lending from the bank in 2008, which saw total small business lending balances increase by 49 per cent.
Steve Pateman, Managing Director, Corporate and Commercial Banking, UK Commercial Bank said: "Alliance & Leicester has attracted 100,000 small businesses to its range of better value and straightforward banking services over the last three years. 2008 was another record year for the bank with the number of current accounts, lending facilities and deposit accounts increasing significantly.
"In the current economic climate, cashflow is the key to business survival and we are committed to increase lending balances further in 2009, to help customers to stabilise their business finances. With many commentators highlighting that business conditions are tough and customer feedback showing 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."
Santander recently announced that SME lending across its UK brands increased by 30% year on year in 2008.
Alliance & Leicester Commercial Bank offers a full range of banking services for businesses with a turnover up to £150 million, including a UK-wide network of Regional Business Centres. More/…
The bank has been awarded 'Best Current Account Provider' for an unprecedented six consecutive years by leading financial guide Business Moneyfacts. For businesses with a turnover of up to £1 million, Alliance & Leicester offer the Free Business Current Account, which has no hidden charges and provides great value, accessible and simple to understand banking. The account offers free day-to-day banking including cheques in and out of the account, BACS payments, standing orders, direct debits, and ATM withdrawals - all with no transaction limits.
The bank's range of deposit accounts and overdraft facilities track Bank of England base rate, ensuring that any changes are immediately passed on to customers.
For further information, on the range of banking services available from Alliance & Leicester Commercial Bank business owners should call 0800 587 0800 or visit www.alliance-leicestercommercialbank.co.uk.
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