Small ventures offered share of £200m fund

13 january 2013

 

Santander’s British division is preparing to lend £200 million to young companies that want to expand.

Ana Botín, Santander UK’s chief executive, said that the lending programme, known as Breakthough, would target companies with an annual turnover of £10 million or less.

Companies in this sector often turn to venture capital or private equity for funds and hand over a large slice of equity in exchange for the capital, she said.