Starling and Funding Options support SMEs with fast loans
With over 120 lending partners, the company has helped raise around £500m between 10,000 businesses in the UK and the Netherlands.
Starling, still fresh from its business, has a 5% share of the UK SME market. His collaboration with Funding Options includes joining the latter’s aforementioned lending panel.
Promote business growth
Throughout the COVID-19 pandemic, Starling has proven to be an ally to small businesses as they look for ways to stay afloat. The pioneering challenger bank has so far issued £2bn of government-backed loans and plans to grow its SME accounts to 18% of the UK market within five years.
“By forming lending partnerships with credit brokers such as Funding Options, Starling makes it easier for small businesses to access the funds they need to survive, grow and thrive,” said Helen Bierton, director of banking services. .
For its part, Funding Options has been equally proactive over the past 12 months, processing £850m of and enabled SMEs to find and access the funds they needed. Stuart Lawson, CRO, is confident that Starling’s participation will add value to their joint efforts:
“This partnership with Starling Bank is another strong signal to business owners that Funding Options will do everything to stimulate competition in the small business lending market and help businesses grow by providing a fair, profitable and competitive choice.”
SMEs: vital for the economy
Find out more in our featured article ‘.’
Did you know? Anne Boden, CEO and Founder of Starling Bank, was the winner of our Top 100 Women in Fintech list. Read the full article here.
Image source: Starling Bank