NatWest (part of the RBS group) is set to launch a new digital platform to allow small and medium sized businesses (SMEs) to quickly obtain unsecured loans of up to £150,000.
Called Esme Loans, it is in trial mode and the bank will offer fast decisions on lending applications “potentially within an hour”. There will be no early repayment charges. The bank is targeting UK SMEs with a turnover of over £15,000 (maximum £25,000). Businesses need to be limited companies and have been trading for a minimum of 18 months.