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|Peer-to-peer lender to ramp up support for UK SMEs|
|Friday, 09 September 2016|
Peer-to-peer lending platform RateSetter has appointed five business finance relationship managers, signalling its intention to step up its support for businesses across the UK.
The new managers, and their respective regions, are:
• Andy Heaton, North West England
• David Hales, Hampshire and surrounding counties
• Lee Ford, Wales and South West England
• Mark Storey, North East England and Yorkshire
• Raj Chahal, East Midlands
RateSetter has now lent more than £250m to UK businesses, but it has identified several key regions where it believes that creditworthy SMEs are significantly underserved.
The relationship managers join from companies including Metro Bank, Bibby Financial Services and RBS.
RateSetter offers loans from £25,000 to £2m, with terms of three months to five years. All loan purposes are considered, and RateSetter provides a lending decision within two days in principle – with funds typically available within ten days.
Since the start of the year, RateSetter has brought in a number of experienced senior business finance experts in a move to boost its SME lending capabilities.
Brian Cartwright, RateSetter’s Head of Business Finance commented: “These new relationship managers are a great addition to our team. Businesses and introducers want to talk to someone knowledgeable who can give them a straight answer and help where required – with great tech and great people we’re building up a first-class business team and providing finance which will enable UK SMEs to grow and increase their productivity."
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