Natwest pledges £5bn working capital support for business customers in coronavirus

1 min

13 shares, 87 points
Natwest pledges £5bn working capital support for business customers in coronavirus 1

An additional £5bn of support to the Fund focused on the provision of working capital support that meets the needs of SMEs including loan repayment holidays and temporary emergency loans with no fees

NatWest’s team of Relationship Managers based in communities across the UK will proactively speak to business customers offering help and support as they form their plans to mitigate the impact of Coronavirus 

·The Bank’s team of locally based Business Growth Enablers will also work with their external networks to distribute information to businesses on  preparedness

·Continued work with the Government, British Business Bank and UK Finance to understand the evolving impacts and appropriately support SMEs

·Proactive outreach to those SMEs that may be experiencing short-term trading issues due to Coronavirus to ensure they are able to access the best possible range of support through NatWest Mentor, the provision of consultancy and advice to help support businesses.

This can range from employment law & HR advice, to health & safety and environmental management consultancy

·Specific sectoral insight and advice from the bank’s specialists

NatWest chief executive Alison Rose said: “The ongoing uncertainty that the UK’s small and medium sized businesses are experiencing is unprecedented even by recent standards. While many of our customers are yet to feel the direct impacts of Coronavirus, I want NatWest to have the right support in place, so we are there to help our SME customers when they need us most.

“This is a priority for NatWest and we will remain proactive, continuing to listen to our customers – we are here to support and can help businesses manage any short term disruption. SMEs should not feel like they have to go through these uncertain times alone, we are here to help.”

 Paul Thwaite, NatWest commercial banking chief executive, added: “We are here to help, there is support available and we want to get it to those who need it.”

 Details of all upcoming Coronavirus events and information and support for customers will be available on the dedicated NatWest Coronavirus Hub

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