6 January 2012
Lending news for King Street industrial estate tenants
A new bank is being launched focused on small business lending after a government stance on encouraging enterprise. It comes as great relief to small enterprise and will help companies to expand through recruitment and the expansion of premises including industrial units, warehouses and workshops.
Late in 2011 Reuters reported on the launching of a new RBS backed bank called Shawbrook. It has been launched with enterprise in mind with it specifically targeting small businesses in the UK. Shawbrook Bank markets itself as customer service orientated bank who abide by common sense decision making.
They recognised how big banks don't really understand the needs of small-medium businesses and this chosen specialism will mean Shawbrook Bank are ready to lend and aim to give a quick response of 'yes' or 'no' within 48 hours.
Shawbrook is looking to use their specialist small business stance to compete with the big four lenders of Barclays, HSBC and the part nationalised Lloyds and RBS.
Britain's government has put a big emphasis on how important the small business sector is in helping to turn around our faltering economy. They pushed big banks to lend more to small firms to help them grow and hire more staff. It was dubbed Project Merlin in which banks would receive legislative restraint breaks if pledging to lend more. Banks have been under constant criticism by businesses and politicians since Project Merlin began, claiming they are still not lending enough.
Owen Woodley, Chief Executive of Shawbrook Bank said "It's clear that the SME sector is massively under-served today".
The bank is partially banked by RBS Equity Finance, which could be a cause for concern for some but to assure the public over these concerns Owen Woodley said "Eighty seven per cent of the money used to set up Shawbrook Bank came independently of RBS. RBS Equity Finance is answerable to its investors, who are for the most part not from RBS."
Shawbrook is looking to make £250 million worth of loans to small and medium sized companies in 2012, prompted by a strong demand after big banks are refusing a lot of small business credit.
This increase likelihood of lending could help your Peterborough, Stamford or Bourne based small business to move into an industrial space, small warehouse or workshop at the King Street Industrial Estate. Moving into larger, more useable premises can help your business to become more efficient and more likely to succeed in 2012.
To find out more about Industrial units at King Street Industrial Estate then call our Estate Manager on 01778 560693 and select option 1 or alternatively send us an email.