Sunny

Sunny

max temp: 8°C

min temp: 5°C

ESTD 1874 Search

East Anglia: Santander says Funding for Lending scheme is working

06:00 30 November 2012

Martyn Dawson, Santander regional director

Martyn Dawson, Santander regional director

Archant

SANTANDER Corporate & Commercial Banking says support from the Government’s Funding for Lending initiative has helped it increase lending to small and medium-sized firms in the Anglia region by 10% over the past year.

shares

In total, SMEs in the region received £86million of new funding from the bank during the year to the end of September.

Santander says its drive to increase lending is part of a continued expansion of its Corporate, Commercial and Business banking divisions to provide an alternative to the current main four high street lenders.

Santander accessed the first tranche of £1billion, out of the £9.4bn it is eligible for, from the Funding for Lending scheme in July this year, enabling it to continue its drive to increase lending to smaller firms and, by helping to free up capital markets, reduce rates across its range of business banking products.

In addition to increasing lending, Santander opened a new corporate business centre in Cambridge and expanded its centres in Norwich and Chelmsford as part of a £7million investment programme to help expand its presence across the UK. It has also taken on 10 new staff including relationship directors and product specialists.

Martyn Dawson, regional director for Santander Corporate Banking, said: “We are delighted to have been able to support even more businesses in Anglia this year, particularly smaller businesses which are so vital for economic recovery and growth.

“There are some fantastic businesses in our region and we are proud to be providing not only funding but, more importantly, a committed long-term banking partnership to more of our local strong and growing companies.”

shares

0 comments

Jeremy Goulding, front, left, chief executive of Wheatley, is congratulated by Innovatioin Martlesham chair Ian Buxton on winning the first Innovationi Martlesham competition. Also pictured, from left, are Paul O'Brien of BT, Jane Bromley of Wheatley, Mike Ward of Wheatley and Mohamed Abdel-Maguid from University Campus Suffolk.

Software company Wheatley has been named winner of a new competition staged by Innovation Martlesham, the cluster of hi-tech companies based at BT’s Adastral Park research site, near Ipswich.

Suffolk cider and vinegar maker Aspall was named Business of the Year at last year's EADT Business Awards.  From left, Tom McGarry of EDF Energy, Barry Chevallier Guild of Aspall and Sarah Howard,  of SuffolkChamber.  	
Picture: Lucy Taylor

There is now less than a week to go to enter the 2015 East Anglian Daily Times Business Awards.

Total unemployment in the UK has reached a near seven year low, official figures showed today.
Photo: Philip Toscano/PA Wire

Unemployment in the UK has continued to fall and a record 31million people are in now work, according to the final labour market figures before the General Election.

The Nestle Purina plant in Sudbury.

KitKat, Nescafe and Shredded Wheat maker Nestlé said today that first quarter sales had been boosted by an earlier Easter, but with growth dented by currency changes after the Swiss central bank’s shock decision to lift a cap on the franc.

The B&Q store on the North Quay Retail Park in Lowestoft which is closing in January 2016. Picture: James Bass

DIY chain B&Q has announced its Lowestoft store will close at the start of next year, with reportedly 40 jobs being lost.

The team at Ipswich-based software company IJYI.

A start-up software business in Suffolk has secured a place on a Government panel allowing it to bid for the delivery of cloud technology services across the public sector.

Bury town centre on market day.

People are being asked for their views on Bury St Edmunds town centre to find out how it is performing and any improvements that can be made.

WH Smith today reported a strong first half for its travel stores.

WH Smith grew sales at its travel-based stores amid a surge in air passengers while its high street network saw a decline due to a tough books market, half-year results showed today.

The Debenhams store in Ipswich.

Department stores chain Debenhams today reported a 4% rise in half-year profits, helped by a tighter grip on promotions.

Alesha and Jonathan Gooderham at Snape Maltings.

The corporate team at regional law firm Birketts has been congratulated on its role in the acquisition of the Snape Maltings complex by the Aldeburgh Music Endowment Fund.

Most read

Most commented

Topic pages