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Bank to offer Tour lending boost

Bank to offer Tour lending boost

Published at 9:43am 2nd January 2014. (Updated at 8:37am 20th January 2014)

There could be a major boost this summer for businesses in Yorkshire which rely on tourism.

The man who helped bring the Tour de France here, Gary Verity, has said that a major High Street bank is planning to relax its rules for lending to tourism businesses because of what the event will bring to the region.

The first stage passes through Otley, Ilkley, Skipton and the Dales before ending in Harrogate, with Knaresborough en route on Day 2.

Gary Verity, Chief Executive of Welcome to Yorkshire, said: "This is a massive opportunity for Yorkshire from a business perspective and for businesses in Yorkshire.

"The first High Street bank has said to us that they're going to relax their lending criteria for tourism businesses in Yorkshire because of the opportunity they can see the Tour de France presents.

"I think if you're running a small hotel and you want to expand or refurbish, and you've been struggling to get access to finance, then now there's an opportunity with one of the main High Street banks saying they're now going to look more favourably to lending to those types of businesses."