Aldermore: We are proud of our participation in Credit Easing scheme

Philip Monks, chief executive of Aldermore, explains his bank's decision to take part in the government's credit easing scheme:

"Since 2009 Aldermore has lent £771 million to over 9,000 small and medium sized enterprises.

"I am pleased that Aldermore will be playing its part in backing Britain by participating in the government's national loan guarantee scheme.

"By ensuring that the credit easing initiative is economically viable for a challenger bank like Aldermore, the government will enable us to continue supporting smaller firms, while simultaneously promoting competition within the banking sector.