A massive £6.6billion of new business loans will be offered to small and medium-sized businesses by Royal Bank of Scotland and NatWest.
The banks will be contacting 23,000 small and medium-sized business customers in a move that comes ahead of a new inquiry by MPs into bank lending to firms.
Ian Cowie, chief executive of business and commercial banking for NatWest and RBS, said: ‘We are proactively speaking to customers to let them know how much we could lend if they want to invest.’
If you are an existing customer of RBS or Natwest you may want to contact your branch manager and ask them about business loans for SME’s under this initiative.