Manufacturing to benefit from 1bn fund

By LBV

16 Apr 2010

RBS and NatWest has pledged to make £1 billion of new loans available on competitive, flexible terms to UK manufacturing businesses, 18,000 of which are located in the North West.

The bank has ring-fenced a fund specifically for the manufacturing sector and is offering loans of between £250,000 and £25m on competitive fixed rates.

Manufacturing businesses of any size are eligible for the loans and can take advantage of the opportunity to defer repayments for up to three years.

The North West’s 18,000 manufacturing companies employ 351,000 people, representing 11.9% of the region’s total employment.

The bank is launching its dedicated manufacturing fund in response to feedback from customers in the sector who are anticipating growing demand for their products during 2010 and beyond.

The fund will provide loans designed to help those businesses finance investment and ensure they are poised to take advantage of any opportunities that present themselves as the market for their products and services begins to recover.

Recent data provide evidence for cautious optimism in a sector which, with nearly 168,000 manufacturing companies employing more than 2.5 million people, has a significant role to play in the UK economy.

Whilst the recent signs are encouraging we can’t forget the context they must be taken in, which is that this sector has been hit particularly hard by the recession and its return to full health will not happen overnight.

We want to ensure we are doing everything we can to assist the sector as conditions begin to improve.

As we see many of our manufacturing customers turning their thoughts to investment in order to drive competitiveness, we want to send a clear message of support to them by creating a fund that is designed specifically to enable that investment.

We believe the fixed rate deals we are launching today are better than you would find anywhere else in the market currently.

The manufacturing fund is the latest in a series of initiatives launched by RBS and NatWest in support of UK businesses, including an SME Customer Charter, a customer support helpline, and a price promise and committed overdrafts for SMEs.

Peter Sleigh, regional director, Natwest.
 

Enjoyed this? Read more from LBV

Latest news

1

Preston frozen dough brand has new celebrity shareholders Ant and Dec and Amy and Chris Cheadle

Preston frozen dough brand has new celebrity shareholders

18 Jul 2025

2

Wellbeing focused co-working space with its own pub in Burnley gets ready for launch Dave Scholes and Malcolm Ireland

Wellbeing focused co-working space with its own pub in Burnley gets ready for launch

18 Jul 2025

3

UK's pioneering Combat Air Flying Demonstrator is revealed Flying Combat Air Demonstrator

UK's pioneering Combat Air Flying Demonstrator is revealed

17 Jul 2025

4

A fresh brew for The Printed Cup Company The Printed Cup Company

A fresh brew for The Printed Cup Company

17 Jul 2025

5

Joe Diston from Beever and Struthers appointed to new Global IFRS leader for HLB International Joe Diston

Joe Diston from Beever and Struthers appointed to new Global IFRS leader for HLB International

17 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Advantage: AI – A Workshop for Business Leaders – August 14th
Navy--Event Tile.png.png
LBV Hub Seminars
14 Aug 2025 - 14 Aug 2025

Advantage: AI – A Workshop for Business Leaders – August 14th

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 12:00

The Business Network Central & East Lancashire
LBV Header (24).png.png
LBV Hub Networking
21 Aug 2025 - 21 Aug 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Morecambe Bay Walk
Walk.jpg.jpg
LBV Hub Awards
30 Aug 2025 - 30 Aug 2025

Morecambe Bay Walk

Arnside, CARNFORTH, LA5

09:30 - 14:00

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Lancashire Business Day 2025
241122lbvlancashiredaylhp0647web
Networking
27 Nov 2025

Lancashire Business Day 2025

Burnley FC , Burnley, BB10 4BX

12:00 - 17:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin