RBS has recently announced a £20 billion windfall that could be used to lend to SMEs after the 81%-owned government bank has undertaken a review.
"Demand for lending remains a challenge, but we want to do more than just wait for demand to materialise," said Chris Sullivan, RBS's head of UK corporate banking. "We want to play our part in securing the recovery." Reported in iii on 3rd July.
Business secretary Vince Cable told the BBC that both he and many businesses were frustrated by RBS's lending restrictions.
This is great news as SMEs will be able to find new help with cash flow from RBS and other lenders working within the factoring space as this relives some pressure on the market. SMEs who have been finding it difficult to gain credit may be offered new facilities as the windfall provides some breathing space.
full article:
http://www.iii.co.uk/articles/101898/smes-set-%C2%A320-billion-rbs-windfall
"Demand for lending remains a challenge, but we want to do more than just wait for demand to materialise," said Chris Sullivan, RBS's head of UK corporate banking. "We want to play our part in securing the recovery." Reported in iii on 3rd July.
Business secretary Vince Cable told the BBC that both he and many businesses were frustrated by RBS's lending restrictions.
This is great news as SMEs will be able to find new help with cash flow from RBS and other lenders working within the factoring space as this relives some pressure on the market. SMEs who have been finding it difficult to gain credit may be offered new facilities as the windfall provides some breathing space.
full article:
http://www.iii.co.uk/articles/101898/smes-set-%C2%A320-billion-rbs-windfall
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