Source: Esme Loans
Esme Loans, the digital lending platform that allows small and medium sized businesses to quickly obtain unsecured loans of up to £150,000, will join a select group of leading alternative finance firms on NatWest’s Capital Connections panel.
Launched at the beginning of 2017, Esme is owned and backed by NatWest and offers UK-based SME customers a simplified, rapid and paperless end-to-end process with competitive rates. Esme was borne out of NatWest’s commitment to investing in innovation and technology to become a faster, easier and simpler bank that’s service-led and customer-focused. Among its features are:
• Easy and secure paperless application process that takes less than 10 minutes
• Quick decisions, and if approved, ability to receive funds within the hour
• No early repayment charges on full or partial repayments
• Competitive rates with annual interest rates as low as 4.08%
NatWest set up Capital Connections in 2016 to help SMEs access alternative sources of capital after being unable to secure traditional financial backing. NatWest signposts business customers to the panel of innovative sources of finance including equity crowdfunding and marketplace lenders. There is no commission paid to NatWest as a result of any referrals, ensuring maximum transparency and no conflict of interest.
Alison Rose, CEO of Commercial and Private Banking at NatWest, said: “We are excited to welcome Esme Loans to Capital Connections. Esme offers customers a quick decision and almost instant funding, providing another distinct choice for the many innovative businesses in the UK. As the biggest supporter of British business, we understand that traditional funding routes are not always the best option for fast growing start ups. Through Capital Connections we’re able to signpost a broad choice of funding options through its impressive range of alternative lenders.”
Richard Kerton, Head of Esme Loans, said: “Since we launched Esme Loans last year, we have seen very positive early results - attracting almost £130m worth of businesses while receiving great customer feedback. With more than 5.5m SMEs in the UK, they are truly at the heart of the UK economy. By joining Capital Connections we hope to be able to work with even more businesses and support their growth.”
Esme is the eighth alternative finance provider to join Capital Connections, alongside Funding Circle, Assetz Capital, Start Up Loans, Seedrs, Together, iwoca and NatWest Social & Community Capital*. Each provider has been selected to cover the range of different funding products and include a mix of specialty finance and peer-to-peer lending. Customers can choose to contact any of the funders directly or be referred to a provider on the Capital Connections panel by their relationship manager.