RBS extends asset-based lending to smaller businesses

Previously only available to larger manufacturers, the new extension was piloted in the midlands and will now be rolled-out nationwide.

ABL allows businesses to borrow money against assets including stock and capital, and typically involves a mandatory invoice finance component.

Colin Muir, director of business development for RBS IF said: In the five years that we have offered ABL, we have lent over 1billion to our larger customers who regularly use the facility to manage cash flow rather than turning to traditional lending products.

By extending this facility we are hoping to support our SME customers in achieving their ambitions without slowing growth or raising equity.

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