Provider of business loans predicts economic growth in Yorkshire

Wed, 07 Feb 2007

A senior banking figure has highlighted the continued economic growth of firms based in Yorkshire, which may encourage some companies to investigate taking out business loans this year.

David Spencer, head of Alliance & Leicester Commercial Bank's Yorkshire business centre, made his comments after it was confirmed that former HSBC banking employee Peter Hough has been appointed as the new senior business banking manager at the office.

While acknowledging that "the business banking market is extremely competitive", Mr Spencer expressed his belief that the commercial financing centre would "play an important role in helping businesses in the region".

And he also outlined his conviction that the economic prospects for the region are positive.

"The economy in Yorkshire continues to be strong with a wide range of businesses across a number of sectors looking forward to a prosperous 2007," he said.

Yorkshire-based companies looking to expand over the next 12 months may wish to consider arranging a business loan.

Repayment of these loans can often be staggered over several years, enabling firms to gain an instant injection of cash without having to pay back the debt in a few months time.

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