RBS and NatWest launch £55m Small Business Fund in the West Midlands

RBS and NatWest have launched an additional £55m Small Business Fund aimed at supporting small businesses across the West Midlands.

Part of a wider dedicated £1bn which will be split between 11 different areas across the UK , the fund will target both new and existing customers who are looking to grow or diversify their business through new borrowing with fixed rate loans from £1,000 to £250,000 with no arrangement fee.

This fund comes a week after the bank pledged its support for thousands of entrepreneurs and high growth businesses with the launch of a network of eight new business accelerator hubs that will offer free workspace, hands on mentoring, a start-up ‘bootcamp’ and a free programme of up to 18-months of advice, support and funding clinics.

Mark Round, regional director for NatWest, said: “Here in the West Midlands 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 on-going commitment, it’s great to launch this new £55m fund solely dedicated to supporting even more small business owners across the West Midlands in fulfilling their potential and reaching their goals.”