RBS And Natwest To Increase Business Lending Under Government Loan Scheme

Fri, 03 Apr 2009

Royal Bank of Scotland and its subsidiary Natwest have agreed to increase loans to businesses under the government's Working Capital Scheme .

In a statement, Business Minister Ian Pearson said: " RBS and Natwest have agreed that the capital released by their participation in the scheme will be redeployed in support of lending to creditworthy small and medium-sized enterprises and mid-corporates."

"This forms part of the £16 billion of additional lending to businesses they committed to on February 26."

The spokesman refused to reveal how much the agreement covered, but Prime Minister Gordon Brown told parliament on Wednesday that £1 billion had been agreed under the government measure.

Mr Pearson added that the government was also in advanced talks with two other unnamed banks to participate in the scheme .

The Working Capital Scheme is the centrepiece of the government's initiative to help boost bank lending to struggling small and medium-sized businesses (firms with turnover of up to £500 million) across the UK.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page



 

Business Newsletter

Please enter your email below and subscribe to our monthly newsletter

Reduce mortgage paymentsSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health InsuranceProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.