Lloyds to match rivals for business start-ups

Good news has come from Lloyds Banking Group ( LON:LLOY) are promising to help 300,000 new businesses get off the ground in the next three years and they say they will match rivals on charges and fees.

The charter, covering customers of both Lloyds TSB and Bank of Scotland, will encourage enterprise, and boost access to finance and provide clearer and fairer pricing for all its customers who have a turnover of up to £15m. The new charter involves providing stronger backup to support the drive for 300,000 start-ups.

Lloyds Banking Group is promising to meet every reasonable request for finance from viable customers. The price of existing loans or renewed overdrafts will be set at a minimum 1.5pc above the cost of funding to the bank. To read more on this story go to telegraph.co.uk.