£100m infrastructure fund for SMEs

Small- and medium-sized enterprises (SMEs) could be eligible for a slice of a £100m fund offered by Lloyds Bank to help access supply chain opportunities for Hinkley Point.Companies nationwide will be eligible to apply for discounted lending to enable them to access tenders.It is estimated that construction of the multibillion-pound nuclear power station will put £200m per year into the regional economy at its peak and provide over 25,000 job opportunities.Small business customers can apply to the fund which will waive arrangement fees on lending directly linked to the construction of Hinkley Point C and give them the financial backing to bid for new business and supply chain contracts.This includes arrangement fees for loans, invoice finance and asset finance facilities. The fund can also be used by businesses that provide indirect services to the power plant through an agreed contract such as hotels, transport, catering, facilities management and security services.Lloyds will also be helping businesses navigate the tendering and supply chain process and direct businesses to the Hinkley Supply Chain Team which consists of EDF Energy and the Somerset Chamber of Commerce.