AutoeBid.com secures substantial business loan from RBS
The government’s pressure on the big bans to lend to small business is finally starting to happen.
With hundreds of small firms going to the wall every week, this could be much welcomed news and should help prevent more small firms getting into dire straits.
The economic downturn is also sending shivers down the spines of staff working at small firms: SMEs now employ over 13 million people but unemployment is rising at the fastest rate for 17 years. By contrast, the new financing package from RBS will enable AutoeBid to employ three more staff.
Amin Saleem, AutoeBid’s founder and MD, says: “For small firms fighting the downturn, access to finance can mean the difference between ‘business as usual’ and bust. This new package from RBS means we can expand and improve our operation, bring more people onto the payroll, and continue to offer spectacular savings to...