* Fast-track requests for temporary credit increases
* Provide short term financing to cover cost of repairs and replacement stock while businesses wait for insurance claims to be paid
* Offer repayment holidays on existing loans to give businesses the breathing space they need to get back on their feet
* Refund or waive overdraft fees incurred as a result of the riots on a case by base basis
Business customers affected by the riots should contact their bank manager or call the appropriate hotline number below.
NatWest business hotline: 0800 158 5977
RBS business hotline: 0800 092 3087
Peter Ibbetson, small business chairman for NatWest and RBS, said: "Many local entrepreneurs have lost their livelihoods as a result of the riots and communities have lost the services they provide. We’re making additional support available because we know how important it is to the local economy to get these high street businesses trading again."
Similarly, Co-operative Insurance is offering help and advice to customers affected by the recent riots.
All customers with home and motor insurance policies will be covered for damage caused as a result of the civil unrest. It will also cover the cost of alternative accommodation for home insurance customers, should it be required.
It wants to reassure customers that it does not have a restriction on the claim notification period of home and motor policies.
Meanwhile, Barclays is offering emergency support measures to help business and personal customers affected by the riots.
Barclays business customers: Barclays Business Managers will be proactively contacting customers to assess any damage or disruption caused to their businesses and offering solutions that will ease the burden on cash flow, such as overdraft increases and loan repayment holidays of up to six months on customers’ existing loans. This will allow businesses time to recover from the immediate impact of the damage caused by the rioting, or to bridge the gap until insurance claims are settled.
Barclays Business customers can call 0845 605 2345.
Barclays personal customers: Barclays personal customers with an overdraft can ask for a temporary increase to help with emergency bills. It will also waive overdraft related fees upon request.
Customers without an overdraft can also apply for an emergency overdraft.
It can also confirm that any damage to properties or vehicles insured through Barclays is covered by its policies.
Barclays can help home insurance customers affected by the riots who can no longer live in their home to find temporary accommodation, and arrange for emergency payments to replace essential items where appropriate. Barclays personal customers can call 0845 7555 555.
Steve Cooper, Managing Director, Barclays – Business and Personal Banking Solutions said: "These riots are having a devastating effect on both individuals and local businesses and we are working to help our customers through these difficulties, including providing emergency overdraft facilities and loan repayment holidays of up to six months for business customers. It is impossible for many of our customers to operate, even those not directly affected by the fires or looting and we can play a part in taking away some of their worry at this time."
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