A COMMERCIAL property fund worth £250m and aimed at customers in the south west has been launched.

The Royal Bank of Scotland Group's fund is being administered through Royal Bank branches and branches of its sister bank, NatWest.

The group says the scheme has been tailored for the south west, where there are many new and growing businesses in need of appropriate financial backing.

Roy Ireson, the Royal Bank's local director of commercial banking, said: "The launch of our £250 million commercial property fund reflects our continued commitment to and understanding of south west businesses.

"Managing cashflow to keep up with working capital needs is a dilemma facing many growing businesses.

"Our experience of providing custom-made solutions, coupled with access to a full range of corporate banking and financial markets products, allows us to structure financing that will help businesses to achieve liquidity for growth and working capital needs."

Customers approaching the Royal Bank or NatWest to inquire about the fund will be given a review of interest rate risk management options before any deal goes ahead.

In addition, each deal will be treated as unique and to be looked at entirely on its own merits.

The announcement of the fund comes two and a half years after the Royal Bank acquired NatWest in a multi-billion pound deal which was then largest of its kind in British banking history.

The group has more than 15 million customers, more than 2,200 branches in the UK and more than 105,000 staff in locations across the world.