Bank Reminder of the Unprecedented Hotline Service for Business
December 1st, 2009
Item submitted by: Natwest
- 2nd opinion on lending decisions
- Free expert advice from bank's most experienced managers
- Named case manager for all enquiries
-
Guaranteed response/case handling times
Back in October NatWest and RBS took steps to ensure that UK businesses – whether existing customers or not – could get a fair hearing for their lending proposals and easy, free access to expert advice on the issues they face.
The banks launched a telephone and email service staffed by experienced relationship bankers which is designed to meet the lending needs of viable UK businesses, irrespective of who they bank with or whether they have been turned down for credit previously.
The ‘Business Hotline’ has a clear mandate to scrutinise instances where firms’ lending propositions have been declined and to exhaust every avenue in the search for a responsible lending solution that meets the businesses’ needs.
Business Hotline puts firms in touch with a named case manager who will remain their single point of contact while their case is assessed and guarantees a final decision within 30 days of contact being made.
Speaking at the time of the launch, Mark Andrews, Managing Director of Business and Commercial Banking, for the East of England said: “What we are doing here has not been done before and is part of our aim to be transparent and innovative in our support for UK firms. We are extending this service to non-customers and making ambitious commitments to respond to and handle all calls and emails in clearly defined timescales with dedicated case managers.
“Businesses are assured of a fair hearing and, where we have turned down an application previously, a full reinvestigation of the circumstances. Sometimes a fresh pair of eyes looking at a case from a different perspective can produce an alternative solution. We are currently approving 85% of loan applications and we’re always looking to improve on that figure.
“We recognise that SMEs need advice and support, whether or not they are customers of ours, which is why we are launching the Business Hotline. Our research shows SMEs often just want advice from a bank and a key element of this service will be the provision of expert guidance on the issues that firms are telling us they are concerned about, such as cashflow and sales.”
If you're a firm that needs advice or assistance on borrowing, NatWest Businesses can contact the Hotline on tel: 0800 158 5977 or email businesshotline@natwest.com
ENDS
Notes to Editors:
· Our free 'Practical Guide to Cash flow and Finances' ensures businesses are better equipped to secure finance from their bank and speed up the application process for them
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