The announcement is part of Lloyds Banking Group’s national pledge to lend up to £18bn to UK businesses in 2020.
The funding is available to firms across Yorkshire and will support entrepreneurs looking to start 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.
Catherine Rutter, Lloyds Banking Group Ambassador for Yorkshire and Humber, said: “There were many triumphs for Yorkshire businesses during 2019 despite the challenging external environment.
“South Yorkshire’s burgeoning advanced manufacturing sector, and Leeds’ growing media might, are just two examples of exciting developments in the area which will help create great opportunities for the region’s businesses in 2020.
“We anticipate lending up to £1.4bn to businesses across Yorkshire this year as they take advantage of the prospects ahead.”
António Horta Osório, Chief Executive of Lloyds Banking Group said: “In 2020, our commitment to supporting businesses is undiminished and we will lend up to £18bn to businesses across the UK. We know that during uncertain times our customers look to us not just for financial support but also for expert guidance to navigate the challenges they may face.”
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