Barclays has announced a £14bn* lending fund as part of a series of initiatives to help small and medium-sized businesses (SMEs) to succeed and flourish through Brexit and beyond. Focused on building SME resilience during uncertain times, the package of support includes:
- A £14bn* dedicated lending fund for the businesses that are the lifeblood of the UK economy (turnover of £0-£25 million)
- More than 100 SME Brexit clinics and seminars being run in local communities across the country
- An established network of on-the-ground relationship management experts and industry specialists, based across the UK
These initiatives are designed to help SMEs think about managing cash-flow and working capital, exporting goods abroad, labour, supply chain management, and broader issues of preparedness.
Launching the fund, Group CEO Jes Staley, said:
“Barclays stands ready to help local businesses in towns, cities and rural communities, up and down the country, during this period of uncertainty. The £14bn* fund, along with our broader package of support, shows our commitment to the local businesses that are the backbone of the UK economy – we are here to help them plan for the future and invest for growth.”
“It is the entrepreneurs, the farmers, the manufacturers, the house-builders, the new tech firms, and countless other businesses, that will help the country deal with – and capitalise on – this period of change. Barclays is here to help SMEs to do exactly that.”
More details on the lending fund, how to apply and Barclays’ broader range of support for SMEs can be found at https://home.barclays/news/2019/04/sme-lending-fund/.