• Lloyds TSB open to hotels

Lloyds TSB relationship director for hotels Tony Burnell has confirmed that the bank is open to hotels for the right business.

Burnell said in news reports that it is a myth the bank is closed to hotel business but warned that hotels looking for finance must have a solid management team in place, with a proven track record. He said the bank will not lend more than 60% of the value of the property, while in the past it may have been as high as 70%.

http://www.caterersearch.com/Articles/2010/07/14/334278/Lloyds-TSB-open-for-hotel-business.htm

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