Bank to free up funding for the trade

SANTANDER has committed to making £100 million of funding available to the Scottish hotel and leisure sector this year.

Santander Corporate & Commercial, the business-facing arm of the bank, is said to have lent more than £30m to Scottish hotel and leisure businesses in the first half of 2014 and has committed to making a further £70m available during the remainder of the year.
The bank said the funding has been made available to allow hospitality and leisure entrepreneurs in Scotland “to capitalise on the growth generated by the Commonwealth Games”.
Kevin Boyd, a divisional manager at Santander Corporate & Commercial, said that Scotland “has long been the home to businesses which are characterised by their innovation and determination to succeed, and we are committed to helping them achieve their ambitions”.
“Entrepreneurs are building on the interest generated by these [Commonwealth Games] events and their legacy by investing in existing businesses, launching new ones, and so creating long term employment opportunities,” said Boyd.
Santander opened a new business centre in Inverness earlier this year and was scheduled to open in Aberdeen as SLTN went to press.
Business centres in Edinburgh and Dundee are expected to open before the end of the year.