The Business Secretary Greg Clark has today (18 January 2018) welcomed the decision by several banks to set up funds to support small businesses affected by Carillion’s insolvency.
Today, Lloyds Banking Group has launched a £50 million fund, HSBC a £100 million fund and RBS has made £75 million of assistance available.
It follows a meeting held by Greg Clark yesterday with banks where he discussed further support and advice that could be provided by the banks for small businesses affected by Carillion’s liquidation.
Greg Clark said:
I welcome this quick and positive move by banks including Lloyds, HSBC and RBS. This follows my meeting with the banks yesterday where I challenged them to see what further support they could provide for SMEs affected by Carillion’s insolvency.
It is essential that small businesses exposed are given the support they need by their lenders, and I look forward to other banks following suit.