March 10, 2020 / 11:29 AM / 3 months ago

Barclays offers repayment holidays to corporate borrowers hit by coronavirus

LONDON, March 10 (Reuters) - Barclays is contacting business customers affected by coronavirus to offer 12-month capital repayment holidays on existing loans over 25,000 pounds, as part of a package of measures to support companies hit by the outbreak.

The British lender is also offering extended or new overdraft facilities and other working capital solutions to support affected businesses, it said on Tuesday.

“Our network of relationship managers has been reaching out to SMEs across the UK to see if they require additional support during this time, as we do regularly when we see any events which may have an impact on our clients,” Ian Rand, Chief Executive of Barclays Business Banking, said.

“Barclays is ready to help, whether that’s with managing cash-flow or any other support, and we encourage any customer who needs guidance to call us or contact their relationship manager.” (Reporting By Sinead Cruise, editing by Iain Withers)

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