Esme Loans enters funding partnership with Pollen Street Capital
NATWEST’S automated lending platform for small- and medium-sized enterprises (SME), Esme Loans, has launched a partnership with Pollen Street Capital.
It is understood that Pollen Street Capital’s investment trust Honeycomb will help to fund and underwrite some of the loans that are made through the Esme brand under the deal.
“We are very excited to form this partnership with Pollen Street Capital, which gives Esme the opportunity to increase its support to the SME community,” Richard Kerton, chief executive of Esme Loans, said.
“Through this strategic partnership, we are able to accelerate the growth of the portfolio whilst providing a wider range of financing options to small businesses across the UK.”
Esme Loans was launched in 2017 and lets businesses apply to borrow up to £150,000, with lending decisions potentially made within one hour.
The loans are funded from NatWest’s balance sheet, but the deal could result in Honeycomb providing finance in some instances.
“Pollen Street aims to partner with innovative businesses, who target underserved market opportunities with strong customer propositions,” Matthew Potter, partner at Pollen Street Capital, said.
“Esme has demonstrated an innovative approach which seeks to combine modern technology with a long heritage in SME lending. We look forward to working together to build a successful partnership.”
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