Support for businesses hit by storms

Friday 10 January 2014

NatWest has introduced a number of emergency measures to help any of its business customers who were affected by the recent bad weather.

Businesses that suffered storm damage are advised to contact their relationship manager. The Head of Business and Commercial Banking at NatWest in Jersey, Russell Dutch, said: “As the Island's community bank, we know that cashflow is critical for businesses. Many firms will have taken a real hit to their livelihoods as a result of this prolonged period of adverse weather. The loss of trade or damage to stock from such a storm can mean businesses find themselves in financial trouble. We’re making these arrangements available because we know how important it is to the local economy and communities to get these businesses operational again.”

The emergency measures are:

• Repayment holidays on existing loans to give businesses the breathing space they need to get back on their fee
• Refund or waive overdraft fees incurred as a result of the adverse weather on a case-by-case basis
• Fast-track requests for temporary credit increases, including credit card
• Special arrangements for business customers with term or notice deposits who need assistance