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Of the five new managers, both Andy Heaton and Raj Chahal spent time as relationship managers at RBS, while David Hales was formerly a business manager at Metro Bank.
Andy will be responsible for RateSetter’s business relations in the North West with Raj looking after the East Midlands and David overseeing Hampshire and the surrounding counties.
Lee Ford and Mark Storey have also joined the peer-to-peer lending platform and will be responsible for relations in Wales and South West England and North East England and Yorkshire respectively.
Lee was previously a regional sales manager at Aldermore, while Mark was managing director for Bibby in Yorkshire and the North East.
“These new relationship managers are a great addition to our team,” said Brian Cartwright, head of business finance at RateSetter.
“Businesses and introducers want to talk to someone knowledgeable who can give them a straight answer and help where required – with great tech and great people we’re building up a first-class business team and providing finance which will enable UK SMEs to grow and increase their productivity.”
In June, RateSetter revealed that it has now leant over £250m to UK businesses since launching in 2010.
In May, RateSetter announced the appointment of former Lloyds Banking Group director Cyrille Sallé de Chou as its chief risk officer.
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