The Royal Bank of Scotland: Supporting Government-run lending schemes
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Gary Trueman, Regional Director, Midlands, Royal Bank of Scotland |
Gary Trueman, Regional Director, Midlands, Royal Bank of Scotland, talks about how RBS is helping to make funding more affordable for businesses through their participation in the Government-run National Loan Guarantee Scheme. No one would argue with the view that access to funding is paramount to reinvigorating the UK economy and as part of our commitment to support small and medium-sized businesses, RBS is participating in the Government-run National Loan Guarantee Scheme (NLGS). The Scheme is designed to give businesses (with turnover of up to £50m) access to cheaper finance, with reductions in the interest rates of 1% or equivalent on loans and asset finance facilities. The Government have announced the new scheme to help smaller businesses obtain lower cost finance. Smaller businesses play an important role in the UK’s economy, but are more vulnerable than their larger counterparts in times of economic difficulty. Smaller businesses are also less able than larger businesses to access alternative funding sources such as capital markets, and are more reliant on bank lending for external finance. We are determined to send a message to small firms that RBS is open for business and that cost will not be a barrier to getting the loans they need – which is why we’re the only major bank offering the discount on lending as low as £1,000. RBS and Natwest have a strong record of supporting Government lending schemes and have backed over 40% of all loans and overdrafts provided through the Government’s Enterprise Guarantee Scheme. Local businesses are the lifeblood of any community – they create employment, generate wealth and provide healthy competition. However, in order to fulfil this role and to drive their plans for growth, these businesses need strong cash flow and regular business investment. Our participation in new scheme demonstrates our commitment to local SMEs across the North West and to supporting the region’s economic recovery. If you have a funding requirement, whether it’s to start a new business, grow your existing business, or simply to help with cash flow, the National Loan Guarantee Scheme could help you achieve your business goals. To learn more about the Scheme and find out how RBS can help support your business, please contact your Relationship Manager. Alternatively, you can: Call the RBS Business Hotline; Or visit www.rbs.co.uk/nlgs The National Loan Guarantee Scheme cannot support overdrafts, revolving credit or business credit cards. Property lending other than for owner occupation is excluded by RBS. The NLGS is a limited Scheme and will be available on a first come first served basis. Usual lending conditions will apply. Security may be required. Product fees may apply. Over 18s only.
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