The bank's Start Up Loans arm said it had provided more than £140m of loans to UK entrepreneurs aged over 50 since its inception in 2012. It made 13,422 loans, at an average of £10,427.
It says more than £16.1m has gone to business owners aged 50+ in the North West. Some 1,549 loans were issued to businesses, with an average loan amount of £10,457.
In the region, £7.2m has been lent since the first Covid-19 lockdown in 2020, across 524 individual loans.
The average loan value per business is £13,746-up almost £3,000 on the four years before Covid, reflecting the additional challenges and costs since faced by businesses.
This story is from the March 14, 2024 edition of Manchester Evening News.
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This story is from the March 14, 2024 edition of Manchester Evening News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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