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13/04/2012 - Santander Launches £200 Million Breakthrough Programme (UK)
The new Santander Breakthrough Programme has been set up to support the UK's most successful fast-growth SMEs and help them achieve their full potential.
Successful businesses will be considered for growth capital loan support. The programme will also support the SME market through a range of activities including investment opportunities, together with a number of other initiatives including university courses, research and development and trade missions.
A group of 'Growth Champions' that can best use the programme's funding package and events to accelerate their growth to become the next world-beating innovative companies, will be identified. These will be businesses that have advanced beyond the start-up stage and need the financing, resources and knowledgebase to work towards the next level.
The programme has an overall loan pot of £200 million available to be distributed in the form of mezzanine capital loans. Development opportunities such as international trade missions, visits to successful companies such as Google, and help in attracting and hiring talented graduates, will also be provided.
The loans are to be used to fund capital projects that will aid growth and development of growth businesses.
Small and medium-sized high-growth businesses in the UK that have a turnover of up between £500,000 and £10 million may apply. The sponsor is looking for profitable businesses with a track record of profitable and cash generative growth (20% per annum as a guideline).
Speaking about the launch of the programme, Santander CEO Ana Botin said:
"One of our major goals is to become the SME bank of choice"
"The group we're looking to help are the growth champions of Britain. This is where we could offer the most help and have the most impact."
Ford Aerospace's Business Development Manager George Reeves said: "Since my visit I have appointed an agent in Brazil who has been securing leads for the business which we would not otherwise have been able to do.
"This level of exposure to an international growing market is vital to the future success of our business."
Applications may be submitted at any time.
Source: santanderbreakthrough.co.uk, 13/04/2012
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