Natwest raises available loans for small businesses by over £2bn for Brexit support
NatWest has added £2.2bn to a Brexit loan pot aimed at supporting small businesses amid Britain’s imminent departure of the EU.
The high street lender is upping the size of its Growth Funding programme to £8.2bn after identifying thousands of smaller firms facing potential disruption with Brexit.
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Natwest, which is owned by the Royal Bank of Scotland, has also been running clinics in an attempt to coach smaller businesses.
Paul Thwaite, managing director of commercial banking at NatWest, said today: “During a time of such uncertainty, it is imperative that we do all we can to support our customers.”
He added: “Our business customers are extremely busy, and there is a lot to do. This is why we wanted to go to them offering our support in a proactive way. We are very much open for business and want to be the bank that supports the UK’s businesses through this uncertain time.”
Speculation over the impact of Brexit on the future of Britain’s small businesses has been mounting ahead of the October deadline to leave the EU.
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Prime Minister Boris Johnson said today: “We’ve got a great new deal that takes back control.”
Small business minister Kelly Tolhurst said: “Financial support from banks is often crucial to the success of an SME…So it is great to see NatWest reaffirming support for their business customers through our new SME Finance Charter.”