Barclays offers funding to snow-affected businesses

HIGH street clearing bank Barclays has said that it will offer a financial support package to all of its affected business banking customers.

James Cliffe, head of SME for Barclays Business in the North, said: “Snow is impacting across the region, making it impossible for some businesses to operate.
“We’ve helped our customers like this before, particularly in the flooding in recent years, so we know that our customers sometimes need us to take that extra step to help when the weather is against them.

The bank is offering a series of measures including cashflow support, which can take the form of a capital repayment holiday of up to 6 months on customers’ existing loans, extending or increasing overdraft facilities or granting interest roll-up on loans for up to six months.

“Our customers should contact their Barclays business manager as soon as they can to discuss how we might support them with concrete measures that meet their needs,” said Cliffe.