Natwest unveils £5bn coronavirus support package for small businesses

March 9th, 2020 – Natwest today said it will pledge £5bn of funding to support small and medium-sized businesses across the UK amid disruption caused by the coronavirus outbreak.

The bank, which recently rebranded from RBS, said the cash injection will mark an extension of its existing growth funding package, which is designed to help companies that have been impacted by the virus either directly or through supply chain issues.

The funding will be used to provide loan repayment holidays of up to six months, as well as temporary emergency loans with no fees.

The bank will also grant overdrafts of extensions of existing overdraft limits, as well credit limits of up to £500,000 to support cashflow.

In addition, Natwest said its team of relationship managers across the UK will speak to business customers to offer help and support as they form plans to mitigate the impact of coronavirus.

More…https://www.cityam.com/natwest-unveils-5bn-coronavirus-support-package-for-small-businesses/

Written by CITYA.M.