The 13-strong team will be managed by Head of Broker Dave Furnival, where deals will be underwritten by over 700 local relationship managers across the UK.

Dave Furnival said: “We are excited to announce our expanded presence in the SME broker market.

“This is an important market for us and we have been working hard to create competitive, simpler, more transparent products that are attractive to customers. 

“With our expanded team we hope to build strong relationships with the NACFB’s members, and in turn increase our ability to support the growth plans of UK SMEs.”

In March, RBS and NatWest announced that all business loans up to £500,000 would now have no set-up or early repayment fees.

“We understand the broker marketplace, its requirements and the changes it faces,” Furnival concluded.