Boutique hoteliers in Scotland who want to capitalise on the growth generated by the XXth Commonwealth Games and other events taking place in Scotland have received a boost from Santander Corporate & Commercial, which is making £100m of funding available to these sectors this year.
As Scotland prepares to host the Games, the Ryder Cup and to support Homecoming Scotland 2014, Santander Corporate & Commercial has already lent more than £30m to hotel and leisure businesses in Scotland in the first half of 2014.
Ahead of the opening of the Games on 23 July, the bank has now committed to making a further £70m of funding available during the reminder of this year to support a strong post-Games legacy in these sectors.
Santander has been a consistent supporter of businesses across the UK; business lending over the last four years growing by an average of 20% per year and continues to focus on growing local relationship banking.
The bank opened a new business centre in Inverness earlier this year and will move to new, larger business centres in Aberdeen in July, Edinburgh in November, and in Dundee before the end of 2014.
Kevin Boyd, Divisional Managing Director – Scotland, Northern Ireland & North East England at Santander Corporate & Commercial, said: "Scotland has long been home to businesses which are characterised by their innovation and determination to succeed, and we are committed to helping them achieve their ambitions.
“The XXth Commonwealth Games and other great events this year are having a strong impact on the Scottish hotels and leisure sectors, which look set to continue to be a positive contributor to Scotland’s economy.
"Entrepreneurs are building on the interest generated by these events and their legacy by investing in existing businesses, launching new ones, and so creating long term employment opportunities. We’ve supported businesses in these sectors with facilities ranging from £12,000 to more than £13 million so far this year."
The bank has also set up a dedicated helpline for businesses in the country which want to talk to Santander Corporate & Commercial about how they capitalise on growth in the country. The number is 05511 477407.
Santander is an official partner for the first International Festival for Business (IFB), which opened on Monday 9 June at the Titanic Liverpool conferencing facility ahead of the opening of the hotel itself.