First Trust Bank Launches New Fund
First Trust Bank launches new £50M SME Business Support Fund.
SMEs encouraged to consider new bank lending fund as a means of developing business.
First Trust Bank has launched a new £50m Business Support Fund, specifically designed to support Northern Ireland’s small and medium-sized enterprises (SMEs). The locally administered fund will offer SMEs the financial support to help meet viable business lending proposals.
This new ‘Business Support Fund’ is part the Bank’s wider Open for Business strategy and one that is focused on supporting the local business community as well as the wider Northern Ireland economy. It is backed by experienced business bankers that will deliver swift local decisions.
The new fund is open to existing and new First Trust Bank customers. The finance can be used for various purposes including the purchase of new machinery or business premises, working capital requirements or business expansion.
Commenting at the launch of the new Business Support Fund, Gerry McGinn, Managing Director, First Trust Bank, said
“This launch reinforces our commitment to playing our part in driving the Northern Ireland economy forwards. Our Business Support Fund has been designed for local SMEs and aims to help them access the finance they need. The future of the local economy depends on the growth of SMEs to generate employment opportunities and sustain growth. We want to be there to help them when they need it most.
‘’Our experienced branch teams will advise businesses on the various finance options that they can apply for, and guide them through the application process. This way we can ensure that local, timely and transparent decisions are made.
“The newly launched Portrush Sea Tours is a great example of how proprietors, Crawford and Pearl Rankin, accessed the funding they required to launch their business through First Trust Bank. They’re one of four SME customers that we’re featuring in our new advertising campaign.’