Banks launch Â£75m fund for South East
A £75m Small Business Fund has been launched by Royal Bank of Scotland and NatWest aimed at supporting small businesses across the South East.
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.
Abram Tilling, NatWest regional managing director, London and South East said: "The Small Business Fund is a fantastic opportunity for our customers to invest and grow their businesses.
"Whether it is business expansion, a move to new premises, a refurbishment project, the purchase new equipment or machinery, or other business growth opportunities, our new fund is here to support businesses throughout London and the South East do things to maximise market opportunities available to them."
The fund comes soon after the bank pledged business support through the launch of a network of eight accelerator hubs around the UK.