Source: Royal Bank of Scotland
The Start Up Loans Company will join a handful of leading alternative finance firms in an exclusive partnership with a NatWest and Royal Bank of Scotland programme designed to help businesses access alternative sources of finance.
NatWest and Royal Bank of Scotland programme Capital Connections helps SMEs access alternative sources of capital after being unable to secure traditional financial backing, with no commission paid as a result of any referrals.
The Start Up Loans Company is the first government-backed finance provider to join Capital Connections. Since launching in 2012, it’s lent £318m to help more than 48,000 individuals fund their early-stage businesses, creating more than 56,000 jobs.
Joanna Hill, Interim CEO of The Start Up Loans Company, said: “Start-ups often bring something fresh and innovative to an existing market, but they are often left at the back of the queue when it comes to accessing finance. We’re looking forward to partnering with NatWest and Royal Bank of Scotland to give people a second opportunity to achieve their business goals.”
Alison Rose, CEO of Commercial and Private Banking at NatWest and Royal Bank of Scotland, added: “We are excited to announce that The Start Up Loans Company will be joining our Capital Connections programme. We are the biggest supporter of British businesses and in 2016 we lent almost £9bn to commercial companies and £1.6bn SMEs, an increase of 43% from the previous year.
“But it won’t always be possible for us to support all our customers with our own capital and it’s important that in these instances we do the right thing by helping them access other finance options. That’s why our Capital Connections programme is so important to supporting British businesses, enhancing their access to the borrowing which is essential for jobs and economic growth.”