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Finance & Economics

Barclays brings solution to UK SMEs??

Jan 30, 2020

Businesses with up to 250 employees and up to ￡43 million turnover are eligible to apply

Barclays

Barclays brings solution to UK SMEs. Source: shutterstock.com

Barclays Corporate Banking launches a new cashback scheme for term loans to small and medium-sized enterprises (SME) in the UK. A ￡450 million support from the British Business Bank makes this scheme the largest of its kind in the country.

The Bank’s ENABLE Guarantee program will offer SMEs cashback on eligible lending, with the intention of supporting SME growth in the UK.

￡450 million scheme will enable more SME term lending which meets the eligibility criteria, with companies benefiting from 0.25% cashback on eligible loans.

Today’s funding announcement from Barclays further demonstrates our commitment to businesses across the UK who represent the core of our economy.  As one of the initiatives from Barclays’ £14 billion lending fund in support of SMEs, we’re offering practical and attractive ways for firms to access the capital they need to help them grow and prosper and at the same time, we have been able to further strengthen our partnership with the British Business Bank
Tasnim Ghiawadwala, Head of UK Corporate Banking, Barclays

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