European Investment Bank's €15bn fund for SMEs

In the current economic climate it is more important than ever to ensure that you are doing everything possible to increase your company's access to finance.

The European Investment Bank set up a €15bn fund in September, that the first UK banks signed up to in January, with the sole purpose of lending money to small and medium-sized firms at a discounted rate over the full term of the deal.

UK Banks signed up for the EIB's scheme include; The Royal Bank of Scotland/Natwest, Barclays Bank, Close Brothers, and most recently, Abbey. RBS is borrowing 250m, Barclays 150m and HBOS secured a 250m loan to lend to UK SMEs.

Any small and medium-sized business that employ less than 250 staff and have a viable business plan can apply to any of these banks for access to the EIB loan.

Find out more: click here.

www.ukba.co.uk