Barclays keeps lending taps on after referendum result
Following the EU referendum result Barclays has announced it will continue its high levels of SME lending to UK businesses.
Under the announcement Barclays is:
– Reaffirming that Barclays is well positioned to meet demand from SMEs for lending
– Maintaining its aim to beat last year’s strong record of £5.4bn in SME lending
– Confirming the bank has no plans to withdraw or increase the competitive rates it offers due to current economic uncertainty
– Committing to the 300,000 UK SMEs currently eligible for an instant overdraft or loan that they will continue to have access to these funds instantly in branch, by phone or online should they need it. Barclays will also continue to grow this market leading proposition.
– Providing additional business managers in our call centres who are on hand to support and guide SMEs on how to plan for uncertain times
– Boosting its specific funding for industries with high exposure to economic change including the technology and agriculture sectors, with further details to be announced in the coming days
Ian Rand, chief executive of Business Banking, Barclays, said:
“Following the referendum many businesses will be reassessing their plans for growth and may need to re-plan or increase the resilience of their finances.
“It’s in times like these when strong banks should stand tall and help ensure the stability in our economy by continuing our commitment to lend.
“SMEs should know that even if their outlook is looking less clear, their bank is on their side and will support them through thick and thin.”