Barclays’ £500m Northern Powerhouse Fund Launch
Posted on the 1 July 2018
Barclays have just launched a new £500m growth fund for small & medium-sized businesses across the North of England as a part of their commitment to support the Government’s Northern Powerhouse Initiative.
The new fund is available from Tuesday 3rd July and enables Barclays to offer the following business lending services for the first time:
free lending up to £25,000
to £100,000 lending without the need for tangible security
to £250,000 overdraft without the need for property security for transport
& logistics, business services, wholesalers & manufacturing companies
flow funding for businesses to invest in acquisitions & organic business
This fund adds half a billion pounds of available funding and sits alongside the Northern Powerhouse Investment Fund (NPIF) and the North East Fund – both of which can be combined with the Barclays Fund meaning even more growth support for the economy of the North.
Why not take a moment to watch our 2-minute launch video with our clients’ Thornton Brothers who have grown their business from £25,000 turnover to in excess of £5,000,000 with the support of Barclays: