NatWest announces £1bn extra lending to support SMEs

NatWest is making £1bn of additional lending available to UK SMEs to invest in manufacturing, technology and development.

The funding is specifically aimed at SMEs looking to boost business performance through investment in productivity-improving measures.

The announcement was made by Alison Rose, chief executive at NatWest Commercial and Private Banking, who was speaking at the recent UK Finance 2018 SME Banking Conference.

“Our business customers tell us they don’t always have the time or headspace to plan effectively for the future, which is contributing to low levels of productivity and slow business growth.

“As sector specialists, we strive to support our customers with detailed sectoral knowledge, but we want to do more.”

Alison added that NatWest will soon be launching research – alongside Centre for Economics and Business Research (CEBR) – which will demonstrate that SMEs could potentially double their revenues if they improved their productivity.

NatWest will also be providing extra support for businesses on the NatWest Business Hub, which was launched last month.

“…We hope this additional lending, alongside practical, tailored support offered by NatWest, will help our customers be the best business they can be,” added Alison.

“Indeed, if the UK’s economy is to grow sustainably, then increasing the productivity of small businesses has to be a real focus.

“We believe we can play a big part in that and are delighted to be demonstrating that commitment with this additional investment.”