Ulster Bank underlines its financial commitment to SMEs
Ulster Bank has announced that 650 small and medium sized businesses have accessed funding from the lender since the start of the year.
The bank made £300m available to Northern Ireland SMEs earlier this year, on top of lending it is making to larger businesses, and said that despite continued reports that firms are finding it hard to access finance from Northern Ireland banks, it remains committed to lending to business.
"In addition to lending to larger companies across Northern Ireland, we have made a significant amount of money available to lend to local small and medium-sized enterprises," said Ulster Bank's head of business banking, Henry Elvin.
"Our small business loans are intended to support start-up companies or to help established small businesses make important capital investment, and they have proven to be a popular way to access lending so far this year.
"With 650 local businesses having taken out Ulster Bank small business loans in 2010 to date, we are pleased to have been able to help create or secure hundreds of jobs already this year through the facility," he added.
The newly opened Hub Cafe in Lisnaskea became the 650th firm to take up a small business loan from the bank.
The start up company, owned by local businesswomen Lorraine Fyfe, is geared towards teenagers, young adults and mothers with their children.