Bank launches fast unsecured loans to SMEs up to £150,000

NatWest is set to launch a new digital platform to allow SMEs to quickly obtain unsecured loans of up to £150,000.

Esme Loans gives customers a fast decision on their lending application which, if successful, will result in rapid funding, potentially within an hour. Customers will also benefit from no early repayment charges and competitive rates.
 
Borne out of an ‘Innovation Cell’, working with Fintech – Ezbob Limited – Esme has been developed in response to the emergence of innovative direct and P2P lending platforms, and aims to simplify and speed up the lending process.

The new automated, lending platform will originate unsecured and unregulated loans of up to £150,000 for a maximum of five years for UK SME customers, whether they bank with NatWest or not.
 
Alison Rose, chief executive commercial and private banking at NatWest, said: “We are excited to launch the trial of Esme this week offering SMEs yet more choice in how they access the funding they need to invest and grow.

“Esme will offer SMEs a quick decision and almost instant funding, allowing those customers to go on and do what they do best – run a business.”