Barclays has unveiled a £14bn lending fund for SMEs to help them through Brexit uncertainty.
The new fund will support businesses with turnover of up to £25m and is part of a series of initiative focused on building SME resilience during uncertain times.
The initiative is aimed at providing loans to help with cash flow, overdrafts, funding for investments and commercial mortgages.
Barclays Business Support
More than 100 SME Brexit clinics and seminars are also being run across the UK, alongside an established network of on-the-ground relationship management experts and industry specialists.
Barclays Group chief executive Jes Staley said:
“Today’s £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…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 here.