LLOYDS Bank commercial banking has strengthened its support to SMEs in Wales with the appointment of specialist senior trading business development director Peter Maunders.

Peter will be joining a team of 13 new senior development directors, who will be working with introducers across the UK, such as local accountants and financial advisers, to reach out to businesses that may be finding it difficult to access finance or are unaware of the different funding packages available to them.

The team will also be working closely with the 72 business development directors currently operating across the UK, but will specialise in engaging with businesses that have a turnover of £10m or above to ensure that companies are receiving the specialist guidance and advice needed to capitalise on current growth opportunities.

Peter said: “The new team will play an important role in building relationships within local communities across the UK, helping us to speak to companies that may be struggling to find a funding package that suits their specific business needs.”

All of the new trading business development directors will have a specialist accreditation in manufacturing from the University of Warwick to help them fully understand manufacturing customers’ needs and provide specially tailored guidance and support.

Peter added: “According to the latest Lloyds Bank Commercial Banking Business in Britain report, manufacturing businesses across the UK experienced a significant increase in confidence in the first six months of 2014.

“To help customers capitalise on the subsequent growth opportunities, we have promised to lend an additional £4bn to manufacturing businesses by the end of 2017.

“We have also increased the amount of money local managers can lend to business without having to ask for central approval, doubling the sum from £500,000 to £1m.”