NatWest sets up alternative finance panel for loan referrals
NatWest has set up a panel of alternative lenders to which business customers can turn if they fail to qualify for a loan from the UK bank.
The panel, called ‘Capital Connections’, builds on NatWest’s existing referral partnerships with P2P marketplace platforms Assetz Capital and Funding Circle to bring three new alternative finance providers into the fold, including small business financier iwoca, charity funder RBS Social and Community Capital, and Together, a property secured lender.
The intiaitive is entering full launch phase, following a pilot which introduced the wider panel of all five lenders to commercial customers with a turnover of up to £25m in South West England, Wales and Scotland earlier this year.
Alison Rose, CEO of commercial and private banking at NatWest, says: “NatWest is the biggest supporter of British businesses and we are committed to improving the support we can offer, including enhancing access to the borrowing which is essential for jobs and economic growth, whether they are existing customers of NatWest or not.”
Source: Finextra – NatWest sets up alternative finance panel for loan referrals
