Natwest and RBS are to make an additional £3bn worth of funding available to small and medium-sized firms in the UK.

The money will be distributed through 12 regional Small Medium Enterprise regional funds, holding £250m each in England, Scotland, Wales and Northern Ireland.

The extra cash is designed to provide business loans and overdrafts to SMEs and businesses can apply for the new funds through the bank's business relationship managers.

"These funds reinforce our commitment to support our £1.2m SME businesses locally across all areas of the United Kingdom," said Alan Dickinson, chief executive of RBS UK.