Banks launch Â£105m Small Business Fund
A £105m Small Business Fund has been launched by RBS and NatWest aimed at supporting small businesses across the North West.
Part of a wider £1bn which will be split across 11 different areas across the UK, the fund will target new and existing customers who are looking to grow or diversify their business.
The fund will help small businesses grow by borrowing money with the certainty of a fixed rate and repayments, with the potential of a base rate rise on the horizon.
Fixed rate loans from £1,000 to £250,000 will be provided with no arrangement fee.
Mark Winters, regional managing director for the north, said: "Small businesses are the engine room of the UK economy, and it is essential that we do everything we can to support them. The launch of this additional £1bn Small Business Fund is another way that we are backing the businesses of tomorrow as they grow.
"In the north we are currently supporting over 100,000 small business customers and are committed to helping both them and the many more new customers we are attracting each week."
The fund comes soon after the bank pledged business support through the launch of a network of eight accelerator hubs around the UK.