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

Double delight for Vincents two newest solicitors Beth Laws and Yasmine Dragan at Vincents Solicitors’ office in Winckley Square Preston

Double delight for Vincents two newest solicitors

14 Feb 2025

2

Bowker Motor Group celebrates record number of apprentices in 40 year history Bowker Preston BMW Apprentices.png.png

Bowker Motor Group celebrates record number of apprentices in 40 year history

13 Feb 2025

3

FWP transforms Health-Based Places of Safety for NHS trust One of the Tameside suites

FWP transforms Health-Based Places of Safety for NHS trust

13 Feb 2025

4

Pleasure Beach partners with industry giant Coca-Cola Blackpool Pleasure Beach

Pleasure Beach partners with industry giant Coca-Cola

13 Feb 2025

5

Prestigious honour given to Mark Birchall at Michelin Guide Awards Mark Birchall Courtesy Michelin

Prestigious honour given to Mark Birchall at Michelin Guide Awards

12 Feb 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
Skills Bootcamp in Procurement - Cohort 3
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Awards
14 Jan 2025 - 18 Mar 2025

Skills Bootcamp in Procurement - Cohort 3

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 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

Understanding & Preventing Sexual Harassment - Creating Safe & Respectful Workplaces
Supporting Women's Health in Your Teams A Path to Success-3.png.png
LBV Hub Webinar
21 Feb 2025 - 21 Feb 2025

Understanding & Preventing Sexual Harassment - Creating Safe & Respectful Workplaces

*, Online, *

12:30 - 13:30

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

Women's Health champion training
Supporting Women's Health in Your Teams A Path to Success-6.png.png
LBV Hub Webinar
26 Feb 2025 - 26 Feb 2025

Women's Health champion training

*, Online, *

10:00 - 16:00

Level 3 Emergency First Aid at Work Course - In Person
RKMS ACADEMY LOGO - BLACK AND ORANGE.png.png
LBV Hub Webinar
26 Feb 2025 - 26 Feb 2025

Level 3 Emergency First Aid at Work Course - In Person

RKMS Group , Blackpool, FY42DP

09:30 - 17:00

Employment Law, Tax and Payroll Update - East Lancashire
PM and M event
LBV Hub Seminars
26 Feb 2025 - 26 Feb 2025

Employment Law, Tax and Payroll Update - East Lancashire

Accrington Stanley Football Club, Accrington, BB5 5BX

08:00 - 10:00

Preston Freelancer Meet-Up: February
Freelancer Meet-Up Feb.png.png
LBV Hub Networking
26 Feb 2025 - 26 Feb 2025

Preston Freelancer Meet-Up: February

Society1 Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Kickstart Networking - Crazy Golf at Level, Preston
Kickstart Crazy Golf.png.png
LBV Hub Networking
27 Feb 2025 - 27 Feb 2025

Kickstart Networking - Crazy Golf at Level, Preston

Level, Preston, PR1 1HT

16:00 - 18:00

StackedX with PM+M and CFO Techstack
LBV Hub Seminars
27 Feb 2025 - 27 Feb 2025

StackedX with PM+M and CFO Techstack

Red Hall Hotel, Bury, BL9 5NA

08:00 - 10:00

Post Employee Ownership Trust: What's the story?
LBV image.jpg.jpg
LBV Hub Seminars
04 Mar 2025 - 04 Mar 2025

Post Employee Ownership Trust: What's the story?

Brabners, Preston, PR5 6AW

11:00 - 12:30

North West (Preston) Finance Leaders Networking Event
MHA-BTI Logo_black (002).jpg.jpg
LBV Hub Networking
05 Mar 2025

North West (Preston) Finance Leaders Networking Event

Farington Lodge Hotel, Stanifield Lane Farington, Preston, PR25 4QR

08:00 - 10:00

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 LBV120 Online Graphic 1
Subscribe now

Weekly news bulletin