This new, proactive approach means that if RBS is unable to help a business obtain the investment capital it requires, normally due to the business not meeting the bank’s stringent lending criteria, then it will introduce Assetz Capital as a potential alternative source of funding. If Assetz Capital is satisfied that the business is creditworthy, then it may be able to allow its own P2P investors to lend to the company. With 50%* of first time business loan applications turned down, this could signal a big change in how businesses find funding.
Andrew Holgate, MD of Assetz Capital, praises this coming together: “We are proud to be working with RBS and expect to deploy hundreds of millions of pounds over the next couple of years into great British businesses. It is clear that there is a genuine desire emerging for banks to support SMEs more by introducing alternative lending industry options.”
For more information please read our press release here
The RBS press release can be found here.
*Government report into SME signposting by the banks can be found here