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On the day Nationwide Building Society said it will employ as many as 250 contractors from the failed construction firm Carillion, now Lloyds Banking Group has also announced it will provide a fund of £50m to support its small business customers who are struggling following the collapse.
Lloyds said its fund was for small businesses within Carillion’s supply chain that “may now be experiencing financial difficulty”.
Jo Harris, Lloyds managing director of business banking, said: “Small businesses don’t normally have the cash reserves that larger businesses do, so any interruption to their cashflow can have a significant impact on their ability to survive.
“By supporting our small business customers during this difficult time, we hope we can help as many businesses as possible to get back on an even keel as quickly as possible.”
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