Lloyds Bank is planning to support Welsh businesses with £1.1bn during 2019 as part of a drive to lend £18bn to businesses in the UK.
The £1.1bn is available to firms across Wales and will support entrepreneurs looking to start-up a new business, micro-businesses seeking to scale up and small businesses considering trading internationally for the first time. It will also support established mid-sized businesses and large, multinational corporations seeking further growth.
Last year, Lloyds Banking Group supported South Wales cold storage firm Wild Water Group in the purchase of a 130,000 sq ft warehouse in Aberbargoed with a £1.7m funding package.
Carys Williams, Lloyds Banking Group’s ambassador for Wales, said: "Welsh businesses have continued to show impressive resilience and determination to succeed in 2018. Wales is home to many dynamic and innovative businesses that hold huge potential to grow in the next twelve months.
"Being able to lend up to £1.1bn this year to our diverse business community should give entrepreneurs, starts ups and SMEs (small and medium enterprises) the capital they need to reach their ambitions, whether it’s to launch a new venture or start trading internationally for the first time.
"We’re committed to supporting Welsh firms of all sizes, both financially and through our specialist expertise as they go for growth in 2019."