Lloyds vows to up SME lending
LLOYDS will give more power to local branch managers to lend to small- and medium-sized enterprises (SMEs), the bank said today.
The managers will now be allowed to approve loans of up to £1m before asking for head officer permission, rather than £500,000.
It is part of the state-backed lender’s pledge to lend £1bn more to small companies this year than it did in 2013.