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Santander reveals business lending initiative

Date Added: 21/04/2011  

Business lending could become more freely available in the north-west of England after a major bank announced a new initiative.

Santander is set to make £40 million available to companies requiring equity in their businesses.

New chief executive of the company Ana Botin stated that small to medium-sized enterprises are very important to the bank.

Speaking to the Manchester Evening News, she said: "The idea behind setting up this fund is being able to offer something different to small business, which is also sustainable."

Ms Botin added that firms seeking business lending may be able to find they can do a deal with Santander even if they have been rejected by other competitors in the past.

She explained the bank is going to put customer service at the forefront of its operations in the future.

Before the Budget speech was given to parliament last month by the chancellor George Osborne, the Forum of Private Business urged him to make lending to firms a priority.

Posted by Miles Pritchard 

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