Lombard has announced to Leasing
Life its intentions to significantly increase its
lending to SMEs during 2010.
Alex Baldock, the managing director of
Lombard, told Leasing Life: “In terms of core SME
businesses, we plan to lend significantly more this year than we
did last year.”
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Since his arrival at the company some 18
months ago, Baldock focused heavily on larger deals in the
corporate space.
During this time, Lombard’s lending volumes to
SMEs have also risen, Baldock said.
In last month’s Budget, the chancellor
Alistair Darling revealed that Royal Bank of Scotland, Lombard’s
parent, and Lloyds Banking Group had lent £38 million to SMEs over
the last 12 months, and that the banks had committed to an extra
£94 billion of lending over the next year, nearly half of which
would be targeted at smaller firms.
Baldock also plans this year to increase
Lombard’s marketing spend in order to encourage companies to make
far more use of leasing than they are currently.
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By GlobalData“There are still many companies out there
inappropriately funding their assets, and we can do a better job
for them,” said Baldock.
A full report on Lombard will appear in
the May issue of Leasing Life
Brendan Malkin
