THE Royal Bank of Scotland has announced that it will be offering capital support to small businesses amid the coronavirus outbreak.
The spread of the virus has resulted in direct impacts on businesses throughout the world, but the bank has pledged to include a £350 million Working Capital Support extension in its successful Growth Funding Package, as well as offering support and practical advice to SMEs.
Malcolm Buchanan, chair of the Royal Bank of Scotland Board said: “The impacts our customers may experience will vary from sector to sector, but we want to be proactive in the way we support them and to use our size and scale, combined with our detailed customer and sectoral knowledge to ensure Scottish SMEs are supported through the impact of the coronavirus.
“We are here, we want to help, there is support available and we need to get it to those who need it.”
Alison Rose, CEO Royal Bank of Scotland, commented: “The ongoing uncertainty that the UK’s small and medium sized businesses are experiencing is unprecedented even by recent standards.
“While many of our customers are yet to feel the direct impacts of coronavirus, I want Royal Bank of Scotland to have the right support in place, so we are there to help our SME customers when they need us most.
“SMEs should not feel like they have to go through these uncertain times alone.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here