Barclays opens £150m SME fund

The scheme is an EIB initiative that enables eligible businesses investing in developing their products and services to reduce the cost of their finance through a one-off cash-back payment received when the loan is taken out, offsetting the costs of borrowing.

The scheme is being offered to businesses undertaking a capital investment project valued at between £5,000 and £22 million, with fewer than 250 employees.

It’s one of several schemes Barclays offers in conjunction with the EIB, the most recent being the £300m of finance made available to small firms that will result in more than 1,100 customers benefiting from cash-back payments totaling £1.8m.

Dan Roberts, head of debt products, Barclays Corporate, said: “The benefit of this scheme is immediate: the cash-back payment gives customers an extra helping hand in today’s challenging economic environment.

“By offering customers innovative ways to help weather these tough times we hope to cement our role as their strategic banking partner for many years to come.”

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