The Start Up Loans Company and NatWest to help UK firms access alternative finance
Government-backed lender joins Funding Circle, Assetz Capital, iwoca, Together and NatWest Social & Community Capital for Capital Connections
The Capital Connections scheme helps those businesses that have been rejected for traditional finance by referring them to alternative providers, receiving no commission as a result.
The government-backed Start Up Loans Company joins six other finance providers on the Capital Connections scheme including Seedrs, Funding Circle, Assetz Capital, iwoca, Together and NatWest Social & Community Capital.
Launched in 2012, The Start Up Loans Company has lent £318m to date to help fund the entrepreneurial ambitions of more than 48,000 individuals and claims to have created 56,000 jobs.
Joanna Hill, interim CEO of The Start Up Loans Company, said: “Start-ups often bring something fresh and innovative to an existing market, but they are often left at the back of the queue when it comes to accessing finance.
“By partnering with NatWest, we hope the Capital Connections programme gives budding business owners a second chance when they are unable to access traditional forms of finance.
Alison Rose, CEO of commercial and private banking at NatWest, added: “[…] it won’t always be possible for us to support all our customers with our own capital and it’s important that in these instances we do the right thing by helping them access other finance options.
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“That’s why our Capital Connections programme is so important to supporting British businesses, enhancing their access to the borrowing which is essential for jobs and economic growth.”