A leading new-wave British bank has pledged to put aside £100 million of facilities for intermediary members of the National Association of Commercial Finance Brokers (NACFB).
Metro Bank, which is a Patron of the NACFB, has made the move following impressive Q2 results and an ongoing commitment to supporting SMEs.
The bank’s most recently released financial results indicated a 216 per cent increase in lending year on year, totalling £1,157,000 - almost half of which was to business customers.
Jason Oakley, Managing Director Commercial Banking, Metro Bank commented: “SMEs and their needs are extremely important to us, and we’re very proud of our continued growth in lending. As a champion of small business, we recognise the challenges that
they regularly face to access finance.
“The NACFB is an important organisation that helps many of these business find the right partners to suit their needs, and we’re committed to offering a source of flexible funding, combined with unparalleled levels of service and convenience to its members.”
Adam Tyler, Chief Executive, NACFB said: “This is a great shot in the arm for our brokers who continue to find demand for finance can outstrip supply. Over the past two years Metro Bank have been very supportive of the NACFB’s efforts to keep cash flowing to businesses where it is needed, and this is a big step that will genuinely make a difference to lending to Commercial Businesses.”
The bank launched Metro Bank SME Finance in May this year and provides invoice, factoring and cash-flow funding solutions to small and medium sized businesses and entrepreneurs countrywide.
Metro Bank – launched in 2010 - hails itself as “revolutionary” and has certainly made some serious statements about its dedication to changing the face of UK banking. The bank’s 27 branches, called ‘stores’, are customer-focussed, open seven days a week and until 8pm on weekdays. Special treatment is extended to dog-owners and their four-legged friends – complete with free doggie treats on arrival.
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