NatWest is to offer Esme Loans, its digital lending platform for small to medium-sized enterprises (SMEs) and scale-up businesses, directly to existing SME business customers as part of the mainstream customer proposition.
Launched as a pilot in early 2017, Esme Loans offers SMEs and sole traders a simplified, rapid and paperless end-to-end process with rates for businesses looking to borrow between £10,000 and £150,000.
Since launching, Esme Loans has lent £36 million to over 570 customers.
Paul Thwaite, managing director for sales, specialist businesses and business banking at NatWest, said: “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 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.”
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