£150m is being made available by Barclays to assist small businesses growth. The cash, which comes from the European Investment Bank, will cost 2.5 percentage points less than Barclays' normal interest rate and is available to companies with fewer than 250 staff from today.
The discount, which businesses will receive as an up front cash payment, is substantial because the European Investment Bank (EIB) is backed by the European Union and can borrow money more cheaply the high street banks.
The benefit of this scheme is immediate: the cashback payment gives customers an extra helping hand in today's challenging economic environment.
The bank said it expected demand to be strong because restrictions on the type of businesses that can receive the loans have been relaxed and the maximum loan size doubled to £22m
Web Hosting and Managed IT Services