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£1bn support set aside for Olympian SME's

Lloyds Banking Group has allocated £1billion’s worth of loans to help small and medium-sized companies finance schemes linked to the 2012 Olympics.

Estimates suggest that the total value of contracts linked to the London Olympics is around £6billion. Even though a number of large contracts have already been given to big companies there are several small direct contracts which have not yet been allocated. 

The Lloyds funding will be distributed according to the SME charter’s rules and will be available to firms that win direct contracts for London 2012 and their suppliers. 

The banking group is set to run 500 seminars all over the UK which explain the numerous business opportunities that the games will bring to Britain.

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