NatWest has launched a grant finder service in conjunction with Swoop, which will allow UK businesses to search for grants to help them deal with the ongoing impacts of COVID-19.

The bank wants to provide SMEs with greater access to third party funding which is not in the form of debt, and via this new service aims to connect entrepreneurs with grants from national schemes, local authorities, growth hubs, local enterprise partnerships (LEPs) and privately funded schemes.

Powered by business financing FinTech Swoop, the new platform will allow businesses to “quickly and efficiently” access tailored grant options, said NatWest.

Following the completion of a simple questionnaire, applicants can review grants matched specifically to their business and can choose to apply directly or request assistance from Swoop.

Applicants do not need to be existing NatWest customers to use the new service, which can be accessed through the bank’s website.

Andrew Harrison, head of business banking at NatWest, said: “The tenacity and resilience entrepreneurs and SMEs have shown in the face of so much uncertainty has been inspiring, and we’re pleased to have been able to help so many businesses access the funding they’ve needed, whether through our delivery of government schemes or through more conventional lending.

He said:“But we know borrowing isn’t right for all businesses at this moment in time, which is why we’re working with Swoop to offer business leaders simple access to the vast array of grant funding currently available across the UK.”

Andrea Reynolds, CEO of Swoop, said: “Our mission is to empower entrepreneurs to make the right financial decisions every day by bringing all their finance options together in one place, personalised to their specific business circumstance.

She added:“By combining the reach of Natwest with the power of Swoop’s advanced technology we’re ensuring SME access to grants can support recovery and growth as we move into 2021 and beyond.”

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