The Royal Bank of Scotland and NatWest has created a fund to help small and medium-sized businesses directly affected by the England riots.

The Royal Bank of Scotland and NatWest has created a fund to help small and medium-sized businesses directly affected by the England riots.

The banking giant, which is partially owned by the government, will provide interest and fee-free loans of up to £25,000 for up to six months to businesses that suffered damage or loss in the riots that took place last week across the country.

RBS says the move will intended to help viable businesses, who would otherwise struggle to access short term funding, start trading again.

At the end of the six-month period, businesses can either repay the loan from these funds or transfer any outstanding amounts on to one of our range of flexible loan products.

RBS and NatWest corporate division chief executive Chris Sullivan comments, ‘These loans will help firms waiting for insurance payments or needing urgent repairs to open for business as soon as possible. I hope that other banks will also be able to help small businesses recover, our high streets are vital for local communities and the economic recovery.’