RBS and Natwest to offer credit support service
Thu, 15 Oct 2009
The Royal Bank of Scotland and Natwest have announced new plans to aid small businesses in getting loans and the advice they need.
A telephone and email service staffed by experienced relationship bankers is to be launched, which aims to "exhaust every avenue in the search for a responsible lending solution that meets the businesses' needs".
Speaking about the scheme, and the problems facing UK firms in general, John Wright, national chairman for the Federation of Small Businesses, said his organisation had long been calling for an intermediary to support the sector.
He said extra help was needed for viable businesses that have been denied loans and overdrafts, especially with almost a third of small firms struggling to access affordable credit.
"We need someone to act as an honest broker; someone to look at the facts, get to the heart of the matter and get a decision made quickly to help small firms sustain their cashflow during these tough times," Mr Wright stated.
"If this move helps fill that gap, even partially or temporarily, then it has to be welcomed. That said, it cannot replace high-quality, impartial government advice."
Earlier this week, Phil McCabe, spokesperson for Forum of Private Business, claimed a simplified tax and legislative system is needed to encourage innovation in the UK.
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