Alliance & Leicester announces business loans success

Thu, 14 Dec 2006

Alliance & Leicester has announced growth in its business loans and business mortgages lending division.

The bank, as part of its pre-trading statement, revealed that more organisations are taking out business loans and business mortgages - pushing the total balances for its commercial lending to £6.2 billion.

This is £700 million higher than the figure recorded at the end of 2005 - despite £391 million worth of commercial customer leases being sold in September.

In addition to business loans and business mortgages, the first nine months saw 18,000 business bank accounts opened.

Bryce Glover, director of corporate banking at Alliance & Leicester, commented: "During 2006 we have seen good levels of growth in all the markets we lend to, with the expertise we have developed in areas such as commercial property and the public sector proving to be a big success."

Alliance & Leicester provides business loans for small organisations and those with a turnover of £1 million to £10 million - while also providing tailored current accounts.


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