Metro Bank announces £1bn small business support fund for 2017
Bank lent £544m to businesses over 2015 and £551m in the first three quarters of 2016 alone
Metro Bank has kicked of 2017 by announcing that it will commit £1bn of funds to small businesses throughout the year.
Available to both new and existing businesses, as well as commercial customers, the bank says it to take a case-by-case approach to lending, “getting to know the people and plans behind an organisation” rather than just their balance sheet.
Customers also receive a local business manager, who helps to make local lending decisions, while larger businesses can access “expert guidance” from dedicated specialist sector teams.
The first three quarters of 2016 saw Metro Bank lend £551m to businesses, with £544m lent over the course of 2015.
Mark Stokes, managing director of commercial banking at Metro Bank, commented: “Businesses are the very bedrock of the UK economy and it’s absolutely vital that lenders do what they can to support their growth.
“Despite the immediate uncertainty following the EU referendum, our customers remain confident about the future and we remain committed to supporting them as they go from strength to strength.”
Craig Hayward, owner of Sweeney & Todd restaurant, said: “For us, it’s incredibly important that our bank really takes the time to understand our business, our model and our plans, with Metro Bank they’ve been a real banking partner in the truest sense of the word.”