
Metro Bank has been announced as a primary banking partner for the government backed Growth Accelerator initiative. In a speech on Wednesday, Business Secretary Vince Cable announced that Metro Bank will support up to £100m in lending for applicable growing small and medium sized businesses.
The £200m Growth Accelerator service matches companies with business experts to identify barriers to growth and ways to overcome them – from securing finance and commercialising innovation to developing leadership and management capability. Over 1,000 businesses have joined the programme since it was launched in May 2012. Growth Accelerator forms part of a package of support for small and mid-sized businesses, including the Business in You campaign and the mentoring portal, www.mentorsme.co.uk which provide a point of access for those seeking business mentoring and those seeking to be mentors across the UK.“Over half of all Metro Bank’s lending is to SMEs and commercial enterprises. Businesses want to borrow from us because our common sense, relationship based approach to credit decisions means that we judge each business on its individual merit. “Metro Bank is a growing business itself, with money to lend. We are pleased to work with Grant Thornton and the Department for Business, Innovation and Skills to support the small businesses that are spearheading Britain’s recovery.” Image source
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