Last updated at 09:41, Tuesday, 05 March 2013

The state-owned Royal Bank of Scotland/Nat West group has provided loans to more than 100 Carlisle SMEs under the Government’s Funding for Lending scheme.

This gives lenders access to cheap finance to provide low-cost loans to businesses.

RBS/Nat West has advanced more than £10m to 105 businesses in the Carlisle area since the scheme was launched last August.

It reckons that the subsidised loans have saved those 105 customers £315,000 in interest payments.

RBS and NatWest claim to be the only banks to offer “significant rate discounts” and to have scrapped fees on loans arranged through Funding for Lending.

The banks are set to hit their target of making £2.5bn of loans available to UK SMEs in the first six months of the Funding for Lending initiative.

They say that, despite the group’s troubles, they remain “by far the biggest lenders to small businesses”.

Michael Burrow, regional director for NatWest Business Banking, said: “Where there is an opportunity to lend we have proved we will try harder than any other bank to support growth.

“The good news is that we are saying ‘yes’ to 93 per cent of loans which is more than ever.”

Recent figures also show that, of more than 40 lenders, NatWest and RBS have provided 40 per cent of all loans drawn down under the Enterprise Finance Guarantee (EFG) scheme.

More than £700m has been drawn by NatWest and RBS business customers since it launched in 2009.

Meanwhile, the Swedish bank Handelsbanken has reported a 23 per cent rise in lending to British customers. Business lending increased 22 per cent to £7.7bn in the final quarter of 2012.

The 141-year-old bank has a branch at Clifford Court, Parkhouse, Carlisle, run by a team of six led by manager Jason Smith who is keen to broadcast the bank’s ‘can-do’ philosophy.

Cumbrian businesses looking for advice on how to grow are invited to attend a free event designed to help SMEs achieve their growth potential.

Several of the county’s business success store will be sharing their secrets at the GrowthAccelerator event next Thursday at Rheged near Penrith.

Those attending the breakfast session, from 8am to 9.30am, cam find out about the £200m GrowthAccelerator service, which gives access to a national network of expert advice.

Places are limited. Register online at www.growthaccelerator.com.

First published at 09:38, Tuesday, 05 March 2013
Published by http://www.cumberlandnews.co.uk