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More help announced for SMEs

Bank of Scotland in Charter pledge to grow small firms

Lloyds BankBank of Scotland has become the latest of the big players to pledge more support for small firms in a renewed push by the high street lenders to re-engage with customers.

Royal Bank and Santander have announced new campaigns aimed at smaller firms. Bank of Scotland owner Lloyds today says it aims to help 1,000 start-ups push through the £1 million turnover, contributing £1 billion to the economy.

It is part of its 2015 SME Charter focusing on growth, digital technology and sustainability as its key commitments for supporting for enterprise.

Graham Blair, area director for SME banking Scotland at  Lloyds subsidiary Bank of Scotland, said: “Growth of the Scottish economy depends on successful new small businesses investing, employing and innovating to become the medium-sized enterprises of the future. But to do that, they need confidence in the commitment of their bank. Our SME Charter clearly sets out the pledges we are making to our customers and the support they can expect.”

Lloyds will promote a new online banking channel and other digital services that will help with banking on the move. It will host a series of regional events to help businesses understand the benefits of technology.

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