RBS and NatWest launch Â£140m Small Business Fund
A £140m Small Business Fund has been launched by RBS and NatWest aimed at supporting small businesses across the South 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 scheme 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.
Haydn Thomas, regional managing director for NatWest in the South West and Wales, said: "Here in the South West we’re home to a thriving business community and to some dynamic, inspirational entrepreneurs – all of whom play a vital role in growing both the local and UK economy.
"We’re proud to work alongside these local businesses, from start ups to well-established companies, enabling them to expand and essentially help them to get to where they want to be.
"As part of this ongoing commitment, it’s great to launch this new £140m fund solely dedicated to supporting even more small business owners across the South West in fulfilling their potential and reaching their goals."
The fund comes soon after the bank pledged business support through the launch of a network of eight accelerator hubs around the UK.