Corporate TreasuryFinancial Supply ChainBank RelationshipsBarclays, Google for Work launch SME lending initiative

Barclays, Google for Work launch SME lending initiative

Barclays has collaborated with Google for Work (GfW) to invest in fast-growing UK partners by launching a pilot lending programme.

Barclays has collaborated with Google for Work (GfW) to invest in fast-growing UK partners by launching a pilot lending programme.

GfW is a service from Google that provides customisable enterprise versions of several Google products, using a domain name provided by the customer.

Barclays said that is the first UK bank participating in a programme of this kind and the initiative is part of an on-going commitment to SME growth in the UK. The programme aims to give eligible GfW partners access to low-interest financing, allowing them to finance strategic growth initiatives, hire additional staff, and invest in future expansion.

“This programme will give SMEs the chance to invest and grow,” said Matt Tuck, head of global corporate banking at Barclays. “I am pleased that we are able to partner with GfW to provide this innovative financing solution that will help smaller businesses accelerate their expansion.

“We look forward to exploring how we can further work with our global corporate clients to support sustainable economic growth in the UK by identifying new ways to help smaller companies prosper and develop.”

James Doggart, chief executive (CEO) of Cloud Technology Solutions, UK, which is a partner of the GfW scheme commented: “The Strategic Growth Fund is a great example of how Google is investing in its premier partners. Funding is a limited factor to growth, but it’s a double edged sword: funding needs to be affordable and growth needs to follow fairly quickly.

“We have seen our UK Google business double in the last 12 months so believe the time is right to accelerate that further. The lending program allows this to happen, we are able to invest in areas and markets now rather than having to wait.”

 

Related Articles

De-risking trade finance operations: A transitional approach

Bank Relationships De-risking trade finance operations: A transitional approach

4m Jacco de Jong
2017's most read: Correspondent banking: still in rude health?

Bank Relationships 2017's most read: Correspondent banking: still in rude health?

5m Henry Balani
The future of banking: it’s all about sharing

Automation The future of banking: it’s all about sharing

9m Edward Berks
A ‘wait and see’ approach won’t work: US businesses must prepare for GDPR

Bank Relationships A ‘wait and see’ approach won’t work: US businesses must prepare for GDPR

9m Patrick Lastennet
Accountants ‘key business funding advisers’ to UK corporates

Bank Relationships Accountants ‘key business funding advisers’ to UK corporates

9m Graham Buck
The insecurity of fraud victims in the fight against cyber-assailants

Bank Relationships The insecurity of fraud victims in the fight against cyber-assailants

9m Keiron Dalton
Open minds will deliver the best from open banking

Automation Open minds will deliver the best from open banking

10m Erik Zingmark
Cash application: more information + more automation = unparalleled efficiency

Automation Cash application: more information + more automation = unparalleled efficiency

10m Nils Strachanowski