Bank of Scotland (BoS) is finalising negotiations with the European Investment Bank (EIB) to secure £250m in funding to support its SME customers during difficult trading conditions.
The funding from EIB will enable BoS to provide lending facilities to its customers at a discount to standard rates. BoS is working with the EIB to define the terms and conditions of how this funding will be made available to its SME customers. In addition to EIB funding, BoS has also committed to a range of other measures aimed at providing some reassurance to its 180,000 small business customers, including guaranteeing pricing on BoS small business customer overdrafts for 12 months from the date of arrangement for new loans and renewals. Adrian Grace, managing director of BoS Commer...
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