Esme Loans, a FinTech lender, is increasing the amount it can lend to SMEs.
The loan limit has increased from £150,000 to £250,000.
The business is part of NatWest’s innovation unit.
To date Esme has lent over £70mn to SMEs.
What does this mean?
FinTech offers an opportunity for increased financial inclusion within the UK, especially to smaller businesses who may struggle to gain finance from incumbent banks – as such, FinTech offerings for business are growing in the UK and Esme is part of this.