To date over 270,000 businesses have been contacted and offered a total in excess of £10 billion in a bid to drive growth throughout the UK.
Ian Cowie, Chairman of SME Banking for NatWest and RBS, said: “Our message is clear, we are very much open for business and we want to support business growth in communities across the UK. That is why we are proactively speaking to customers to let them know how much we could lend if they want to invest. We have received positive feedback from our customers about this initiative and it is encouraging to see the money lent enabling local businesses to fulfil their ambitions such as, buying their premises, expanding their production and recruiting more staff. Our aim is to provide new opportunities for SMEs, which will benefit the economy here in UK.”
David Bairner set up Business Technology Support Ltd in 1992. Based in Bracknell, Berkshire, David and his sister Andrea Turner, have seen their local business go from strength to strength over the past few years. BTS, as they are known, is the main distributor for Canon & Samsung office equipment. They sell, service and offer maintenance contracts and have recently branched into hiring out equipment as well. David's business was close to operating at capacity when RBS highlighted an opportunity for him to increase his funding. Through support from his relationship manager Wendy Phillips, David's funding was increased by £150,000 providing BTS with the financing to buy a new site giving his business more room to grow.
David commented "The letter I received from RBS and the speed in which RBS turned the funding facility round in could not have been more timely. I didn’t think I would be eligible for more funding at that time and to learn that it was an option gave me the confidence to work with Wendy to grow my business."