Institutions providing education to the primary, secondary,
higher and adult sectors will be able to access lower cost
finance as a result of a £200m loan facility made available
following the signing of a new contract between Barclays and the
European Investment Bank (EIB). The Barclays 'EIB
Loan Support for Education' scheme aims to help reduce the cost
of borrowing for institutions undertaking capital investment
projects, ranging from classroom refurbishment to campus
expansion. Customers eligible for the loan support
can benefit from a single up-front payment of between £737 and
£29,500 cash-back. Richard French, Barclays Business
Banking Product and Marketing Director said: "We are delighted
to offer our business customers in the education sector a
practical loan package to encourage investment in UK education.
The cash-back can be used to reduce the cost of borrowing or for
re-investment in the business." To be valid for
support, loans must be a minimum of £500,000 and up to a maximum
of £20 million and open for a minimum term of three years. The
project being financed must incorporate an underlying investment
strategy and have costs of more than £1 million.
Barclays has substantial experience in all areas of the
education sector. Clients range from state funded schools,
colleges and universities to the largest independent schools. In
addition, Barclays also has strong contacts in the wider
education community, including the funding agencies.
Barclays Education Relationship Managers have specialist
knowledge of the sector including a full understanding of the
developments and challenges it faces. They are also trained by
the National College of School Leadership to further improve
their insight. They can help to: simplify
administration improve cash management enhance your
financial control protect against the effects of uncertain
funding provide guidance and financial support for projects
(subject to credit status) maximise the returns on any
surplus funds About Barclays Barclays is one of the
world's largest financial services groups. We place high
priority and focus on providing a good relationship with our
762,000 business banking customers, with products and services
tailored to their size, complexity, financial and geographic
requirements. Customers also benefit from a full range of
services, encompassing debt capital markets, investments,
private and international banking and personal financial
services. We are committed to making a real and
lasting difference to businesses, extending their opportunities
and releasing potential. Each week we help over 1000 new
businesses open their doors for the first time. And with teams
dedicated to industry sectors, our Relationship Managers have
specialist knowledge of the markets in which our customers
operate. Barclays has over 300 years' banking
experience, and truly understands what makes businesses tick.
About the EIB The European Investment Bank
(EIB) is the European Union's
long-term lending institution, a not-for-profit institution
created by the Treaty of Rome in 1958. It finances capital
investment furthering EU integration, in particular for regional
development; trans-European transport, telecom and energy
networks (TENs); SMEs; research, development, innovation and
education. Owned by the Member States of the European Union, EIB
raises its funds on the capital markets (AAA-rated issuer). Each
year, it lends close to EUR 45bn, of which 90% goes to projects
located in the EU-25.
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