NatWest pledges support for businesses impacted by Operation Stack - CILT(UK)
Search
Search
You are here: Home > News > Latest News

BLDC24 Wide Skyscraper advert




  



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 


LATEST NEWS

NatWest pledges support for businesses impacted by Operation Stack

06 August 2015/Categories: CILT, Industry News, Freight Forwarding, Logistics & Supply Chain


Businesses impacted by disruption in Dover are being offered additional support from NatWest.

Working with Lombard, it’s asset finance arm, and RBS Invoice Finance, the bank is offering customers additional support including the extension of overdrafts, invoice finance and loans.

The Freight Transport Association, FTA, estimates the cost to haulage companies caught up in Operation Stack - which has seen thousands of lorries sat dormant on the motorway due to strikes and issues with immigrants in Calais - to be £700,000 a day and £250m to the UK economy as a whole.

Neil Bellamy, Head of Business Services at NatWest, said: 'Many businesses will have taken a real hit to their livelihoods as a result of this prolonged period of disruption. 

'Knock on effects will be felt for some time, even beyond the road freight and haulage industry. Our relationship teams on the ground in the Ashford and Kent have also reported other businesses affected by the traffic chaos in the retail and hospitality sector.

'We’re committed to working closely with businesses to support them as best we can. This may come in the form of an overdraft extensions, loan repayment holiday or extension of repayment terms.'

Derek Pridmore, Head of Commercial Transportation at Lombard, said: 'The costs to haulage companies are huge. Not only are they losing the time of their drivers, but many loads - including fresh foods and pharmaceuticals - are having to be destroyed due to sell by dates. 

'I would urge all businesses to approach their relationship manager as soon as possible to figure out the best approach for them.' 

Businesses affected by the Operation Stack should contact their relationship manager or call: 0345 711 4477. 

NatWest/RBS relationship managers will continue to contact and visit customers affected to see how else we can help them. 


Print

Number of views (2755)

Tags:

Theme picker

Registered Office:

Earlstrees Court, Earlstrees Road, Corby
Northants, NN17 4AX
Main Switchboard: 01536 740100

Company Registration Number: 2629347 
(A Company Limited by Guarantee)
Charity Registration Number: 1004963

© The Chartered Institute of Logistics and Transport