Called the ‘Growing Business’ package, the measures are aimed at supporting companies in the various stages of their lifecycles.
The first will be the launch of fee-free business loans and overdrafts as the bank said the removal of an arrangement fee could save businesses up to £10,000 on a £500,000 business loan.
The bank has also launched a £1bn business expansion fund specifically aimed at supporting those companies looking to grow their current operations.
It has also committed to maintain its current offer of free banking for start-up businesses.
The fourth element of the support package will see Yorkshire Bank’s current switching offer extended and enhanced from the start of November.
The current offer provides 18 months of free day-to-day banking for businesses with a turnover of up to £1m and which switch to Yorkshire Bank.
Paul Shephard, director of business and private banking, said: “In the last year, we have seen an increasing number of growing businesses coming to us with plans to invest in better or more equipment and machinery, or for support involving new or extended premises.
“By ring-fencing this fund, a growing business can be confident that we are actively lending to support expansion.”
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