£1bn pot for manufacturers

The Royal Bank of Scotland and NatWest has pledged a £1bn lending pot to help manufacturing businesses across the country. As part of the scheme, the group said that loans will be available at “competitive rates with the option to defer payments for up to three years”. The North West is home to approximately 18,000 manufacturers, employing 351,000 people and representing 11.9 per cent of total employment in the region. Businesses can access loans of between £250,000 and £25m via the fund. It is open to both new and existing manufacturing businesses of any size, including start-ups.