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Britain's smaller banks jostle for business banking grants

Funds have been set up to increase competition; at least 12 lenders are expected to be eligible to apply for funding

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Virgin Money will be able to bid for a pool of grants including one worth £15m and two worth £15m and open to firms new to the sector.

London

BRITAIN'S smaller banks are lining up to apply for multi-million pound grants the government hopes will help them compete in the corporate banking market.

For years the government has wanted to reduce the dominance of big banks in the small-to medium-sized business (SME)...

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