Ulster Bank launches new business package

A BUSINESS start-up package from Ulster Bank was launched yesterday boasting transaction-fee free banking for three years.

It also includes a start-up business loan rate of 5.95% variable for all amounts and access to a loan of up to €30,000 with no need for personal guarantees to be backed by assets.

The package’s other highlights include free monthly subscription for three years to the bank’s online banking service Anytime Business and a Mastercard Business Card with the annual fee waived for the first year (however Government stamp duty applies).

The banking package also includes trade support services for start ups doing business abroad which includes commercial foreign exchange. Support from a nationwide team of Enterprise Advisers is also included.

Ulster Bank head of commercial & business banking, John McGrane, said research into the financial needs of start-ups was done before putting together the package.

“This package reflects the needs of new businesses, offering them access to finance without unwieldy fees and charges. A majority of businesses don’t require huge capital sums, but people aren’t always willing to risk personal assets or re-mortgage to start-up their own company. Our package offers easier access to finance at lower rates than any other bank,” he said.