18 focus on Reading


Backing businesses in Reading


Toby Parrant, who has just taken over as senior manager for Lloyds TSB Commercial in Reading, is a man on a mission – he is determined to show the local SME community that the bank is very much 'open for business'


“Our key priority is to get the message out to businesses that we want to support customers with their funding requirements,” he said. “A lot of people still say the banks aren’t lending, so we need to ensure customers know there are solutions available and our team is ready to help.


“We know SMEs are being cautious, but our wealth of experience means we can support customers in making an informed choice about their options, not just for today’s market, but for where the business is going in the future.”


Parrant’s arrival has been welcomed by Paul Smart, area director for Lloyds TSB Commercial in the Thames Valley, who said: “We are delighted to have appointed Toby. He is a local professional with first-hand experience of managing SME accounts, something he has done very successfully, and a proven track record in helping companies expand.


“As a bank we are very committed to supporting SMEs and we appreciate we have a huge role to play in helping to stimulate growth in the market. Our way of doing that is by providing finance to business customers through a variety of means,


“Last year Lloyds Banking Group lent £12.5 billion to small and medium enterprises and is on track to exceed this in 2012. Statistics show that eight out of 10 loans and overdraft requests received by Lloyds TSB Commercial are approved, demonstrating that we are serious about helping businesses build for the future.


"One way we’re supporting SMEs is through the Lloyds Funding for Lending scheme, which utilises the Government’s Funding for Lending Scheme to give businesses access to cheaper finance through a 1% reduction in interest rates on a range of options, such as business loans, commercial mortgages and hire purchase agreements."


Toby Parrant, third from left, and the team


At the same time, the bank is supporting the Government’s Enterprise Finance Guarantee scheme, aimed at customers who have a viable business and require working capital and investment, but who may struggle to access funding due to a lack of security.


Parrant is proud of the fact that Lloyds TSB Commercial’s net lending book for the Thames Valley area is up 6% year on year versus the industry trend of -4%.


“The combination of our Funding for Lending scheme and the Government’s Enterprise Finance Guarantee means we can offer businesses an even more attractive approach to their funding, with reduced interest rates, which goes towards helping them invest and make their business more successful,” he said.


Parrant heads a team of seven relationship managers who cover the town centre, together with Henley, Tilehurst, Caversham and Woodley.


Graham Muse, Chris Dummett and Martin Bacon look after the higher turnover customers from £0.5 million to £5m; while Conrad Williams, Rob Williamson, Adrian Shapter and Andrew Stagg serve the medium turnover market between £200,000 and £0.5m.


Two separate relationship directors, Steve Cox and Peter Evans, take care of customers with a turnover between £5m and £15m. Working alongside the team is business development manager Phil Tucket.


The move has brought Parrant back to the patch where he worked previously as a


Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.


All lending is subject to a satisfactory credit assessment


Please note that any data sent via e-mail is not secure and could be read by others. Lloyds TSB Commercial is a trading name of Lloyds TSB Bank plc and Lloyds TSB Scotland plc and serves customers with an annual turnover of up to £15M. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 020 7626 1500. Authorised and regulated by the Financial Services Authority under numbers 119278 and 191240 respectively. Licensed under the Consumer Credit Act 1974 under registration numbers 0004685 and 0198797 respectively. We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk


www.businessmag.co.uk THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2012


relationship manager and follows a spell based in London and time at the bank’s head office.


“The great thing about Reading is that it has the same buzz as London, the regional economy is still strong and there is lots going on,” he said. “We have a loyal team of managers who know the area well and bring an excellent blend of experience and enthusiasm.


“They are very good at building a rapport with customers and we find that out of the potential customers we talk to, we are very successful in customers switching their businesses to us. Our number of referrals is consistently high and we also have good networking links with the local business and professional community, which we are keen to strengthen still further.”


Parrant’s final message is clear: “It’s about having the confidence in your own business, so if you see an opportunity or niche in the market where you believe you can grow, then come in, sit down and talk to us. We offer a range of lending options, our team take time to understand a customer’s business and provide support and guidance to help them make an informed decision.


“We are here to help, every business is different and we can use our experience to find the right guidance and support for you.”


Details: Toby Parrant 07584-580713 toby.parrant@lloydstsb.co.uk www.lloydstsb.co.uk


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