Lloyds Banking Group has committed lending £1.1bn to businesses in Wales in 2020.
The funding commitment is part of a total pledge of £18bn of gross lending to firms across the UK.
The funding is available to firms across Wales 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.
Carys Williams, Lloyds Banking Group ambassador for Wales, said: “We anticipate lending up to £1.1bn to firms across Wales in 2020, to help them expand, create jobs and thrive.
“Regeneration projects underway across the country are creating new opportunities for businesses. Meanwhile, many companies will be investing in boosting their productivity this year, providing them with a strong footing for growth.
“In what promises to be another eventful year, we’ll be by the side of businesses 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.”
Lloyds has yet to finalised it lending figures for firms in Wales in 2019.
