Natwest unveils £5bn coronavirus support package for small businesses
March 9th, 2020 – Natwest today said it will pledge £5bn of funding to support small and medium-sized businesses across the UK amid disruption caused by the coronavirus outbreak.
The bank, which recently rebranded from RBS, said the cash injection will mark an extension of its existing growth funding package, which is designed to help companies that have been impacted by the virus either directly or through supply chain issues.
The funding will be used to provide loan repayment holidays of up to six months, as well as temporary emergency loans with no fees.
The bank will also grant overdrafts of extensions of existing overdraft limits, as well credit limits of up to £500,000 to support cashflow.
In addition, Natwest said its team of relationship managers across the UK will speak to business customers to offer help and support as they form plans to mitigate the impact of coronavirus.
More…https://www.cityam.com/natwest-unveils-5bn-coronavirus-support-package-for-small-businesses/
Written by CITYA.M.
Related Post
COP29 can ensure SMEs thrive in...
The transition to a just, resilient, net-zero future is not possible without small and medium-sized businesses, known as SMEs. They are the ...
Financing SMEs and Entrepreneurs 2024
Since 2020, a series of shocks to the global economy has had significant impacts on small and medium-sized enterprises (SMEs) and entreprene...
SMEs can benefit from integrating growth...
Accounting for about 30% of global greenhouse gas emissions, the industrial sector is accelerating its efforts to achieve net zero by 2050 ...
