Lloyds launches £2.5 billion finance fund for Shropshire and Black Country businesses
New finance worth more than £2.5 billion is being made available to support small and medium-sized enterprises (SMEs) across Shropshire and the Black Country.
High street banking giant Lloyds has announced the funding pot which it is aiming to distribute during 2026 to support businesses to grow and create jobs.
This forms part of the banking group's plan to make more than £35 billion of new finance available to companies operating and investing across the UK this year.
New research from its Business Barometer report reveals that 92 per cent of businesses have a clear view of their biggest opportunities for growth.
Respondents identified investing in their workforce, developing new products or services and introducing new technology as their leading growth drivers over the next six months.
The West Midlands is said to contribute around seven per cent of the UK's GDP.
Dave Atkinson, the bank's regional director for the West Midlands, said: "Lloyds Banking Group is proud to make £2.5 billion of new finance available for local firms in the West Midlands, helping them grow their business, invest in innovation and create new jobs.
"Whether it's supporting a small company taking its first step into exporting or a larger firm scaling up to meet growing demand, we're committed to helping businesses turn their potential into growth."
Among the West Midlands firms which have recently benefitted from Lloyds' support is Staffordshire-based Autosmart International.
It secured £36 million from the bank to complete a management buyout and fund its next phase of growth.
The manufacturer supplies professional vehicle cleaning products to customers across eight countries through a franchise network of around 300 showrooms.
Justin Woodman, group managing director at Autosmart International, said: "We're proud of our British manufacturing heritage and our franchise partnership model and we're investing in the people, systems and more sustainable ways of working that will help us grow.
"Lloyds understands our culture and ambitions and delivered a package that supports a smooth transition and our plans for the years ahead."
