Ulster Bank Sign Up To Funding For Lending Scheme

SDLP Finance Spokesperson Dominic Bradley has welcomed Ulster Bank's announcement that they will be signing up to the Bank of England’s Funding for Lending scheme for businesses, but says that the worth of the scheme will be proven by the experience of Small and Medium Enterprises who get finance from them.

The Newry and Armagh MLA said: "The Funding for Lending Scheme is a positive move by the Bank of England to ensure that there is additional finance available to banks for business lending.

"The need to stimulate our economy and grow our private sector has never been greater and I hope that the positivity shown by the Bank of England is replicated in Ulster Bank’s lending practices.

"Those who suffer most at a time of economic downturn are the small and medium-sized enterprises (SMEs) whose margins are smaller and who are often the first to go to the wall, particularly because they frequently struggle to get credit.

"The true success or failure of Ulster Bank’s engagement in Funding for Lending will be in how they treat SMEs who come to them for business-related finance."


Related Northern Ireland Business News Stories
Click here for the latest headlines.

22 January 2019
Industrial Energy Efficiency Accelerator Scheme Launched
The Carbon Trust has launched a new Industrial Energy Efficiency Accelerator (IEEA, which aims to identify new energy efficient technologies and accelerate their deployment.
25 January 2018
Rural Business Investment Scheme Announced
Funding has been announced for new and existing rural businesses under the Rural Business Investment Scheme. Within the Lisburn & Castlereagh City Council and Belfast City Council areas new rural business start-ups can apply for funding up to £30,000, while existing rural businesses can receive up to £50,000.
12 October 2017
Business Finance Workshop Announced
A new business finance workshop for start ups has been announced by Connect member Harbinson Mulholland. Taking place at the MAC on 24 November, Harbinson Mulholland will host the informative workshop providing insights on why understanding business finance is critical to the success of startup businesses.
29 May 2018
Ulster Bank Announce New Vertical Bank Notes
Ulster Bank has announced the introduction of two new vertical polymer banknotes, which will enter circulation in 2019. The new £5 and £10 notes are based on the theme 'living in nature' and will feature Strangford Lough, Brent geese, Lough Erne, the Irish hare and Guelder-rose shrubs.
19 February 2018
Limited Time Remaining For Leaders To Enter IoD Director Of The Year Awards
Business leaders have until 28th February to enter this year's Institute of Directors (IoD) First Trust Bank Director of the Year Awards. The annual awards honour the achievements and leadership of directors from sectors across Northern Ireland, with category winners then considered for the UK-wide Director of the Year Finals in London.