ESME WANTS TO BE LENDING £1BN A YEAR TO SMALL BUSINESS
July 30th, 2019.


Esme Loans, the NatWest-backed digital lending platform for SMEs and scale-up businesses, wants to be lending £1bn annually within a few years.


The platform, which went live three years ago, is about to cross the £100m lending threshold.

By comparison, Funding Circle currently has £3.5bn of SME loans under management.

The NatWest spinoff says that it would like half of the current annual £2bn alternative-finance SME lending market, which itself accounts for one third of the total £6.2bn alternative finance market. It points out that despite drop-off, the SME lending market still grew by 20pc in 2018. The total amount lent to British SMEs in 2018 was £58bn.

Rival financier Growth Street also wants to be lending £1bn a year by the end of 2022.


For the full story at growthbusiness.co.uk CLICK HERE.