Aldermore loans top £1bn mark

Aldermore, one of Britain’s new banks, has lent more than £1 billion to small firms since opening for business in the summer of 2009.

The bank set out to serve smaller firms and now has 12,000 customers. It has also attracted more than £2bn of retail and business savings.

It announced the milestone during a visit by the Chancellor of the Exchequer George Osborne to Aldermore’s offices in Wilmslow.

He said: “It’s great to see new banks like Aldermore entering the market and shaking up the competition.

“I am very pleased that they’ve joined our Funding for Lending Scheme, which is helping businesses and families borrow affordably, and supporting banks like Aldermore that want to lend more.”