Fund of £100m for North-East SMEs to borrow

Fund of £100m for North-East SMEs to borrow

NORTH-EAST businesses both struggling or looking to innovate can access a fund of £100 million thanks to a commercial finance firm.

A fund of £100 million has been made available to small to medium size enterprises across the North, including the North-East, with debt facilities agreed with RBS and ABN AMRO.

The money can be used for acquisitions, refinancings, turnarounds and growth opportunities as businesses respond to Covid-19 challenges

The announcement comes from Praetura Commercial Finance, which has successfully completed an increased syndication of its debt facilities, enabling SMEs to access finance they need to power ahead in the current challenging environment.

Source: The Northern Echo

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