The Natwest-owned lending platform has been expanding its SME loan offering and has now officially launched to its wider customer base.
High street bank Natwest has formally launched its Esme Loans brand and will from today offer these loans directly to its mainstream business customers.
Launched in 2017, Esme Loans is a wholly digital platform offering speedy unsecured loans of up to £150k with rates starting at 3.84 per cent to SME customers. Since launching, Esme Loans has lent £36m to over 570 customers.
Paul Thwaite, MD Sales, Specialist Businesses and Business Banking at NatWest, said: “This is an exciting development in the evolution of Esme Loans and a demonstration of NatWest’s commitment to financing small businesses, where we are the number 1 lender in the UK. Today’s launch is in direct response to our customers’ demand for simple, fast access to finance through convenient, digital channels.’
“With SMEs and micro businesses representing nearly 97 per cent of the UK’s record 5.9 million businesses, it is now more important than ever that we continue to offer innovative, simple products and services that allow small business owners and entrepreneurs to do what they do best – run their business.”
As part of its plans to grow and scale the business in the UK, Esme Loans recently launched a new advertising campaign across digital channels, social media, outdoor press, and radio. It also launched a partnership with Pollen Street Capital whereby the firm will fund loans on the platform.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.