Member Article

Government partner with bank for SME growth

A new partnership between the Government and Metro Bank is hoped to deliver growth prospects for southern SMEs.

The UK bank will support up to £100m of lending for eligible businesses in London and the South East, that are signed up to the coaching service GrowthAccelerator.

The Government-backed service matches eligible companies with business experts to identify barriers to growth and ways to overcome them.

RBS Natwest has also agreed to promote the service across its nationwide network to UK SME customers.

The Business Secretary Vince Cable said: “GrowthAccelerator is designed to help these next generation businesses fulfil their potential. Getting access to finance on reasonable terms is crucial to their success which is why I am delighted with today’s pledge by Metro Bank to provide up to £100 million of lending to eligible businesses signed up to GrowthAccelerator.

“It is good news for businesses that new entrants like Metro Bank are energising the market to support dynamic, fast-growing UK businesses. I also welcome RBS Natwest’s commitment to promote GrowthAccelerator to its substantial SME client-base.”

This was posted in Bdaily's Members' News section by Tom Keighley .