OakNorth to challenge major banks with new SME proposition
By Tom BelgerOakNorth Bank has called for SMEs to snub major banks following the launch of its new product range
OakNorth Bank has called for SMEs to snub major banks following the launch of a new product range.
They include flexible business term loans, short term working capital loans and property development finance.
OakNorth is critical of the major banks claiming that they have taken a “computer says no” approach to small business lending and offer a “derisory service”.
Rishi Khosla, Co-Founder and CEO of OakNorth Bank, said: “Entrepreneurs and business owners have been under-served by large lenders for decades, in what has become a defining problem for our economy.
“We need to reawaken the entrepreneurial spirit and urge to invest and grow what made the British economy great in the first place.
“With these lending products and our appetite to fund small business growth, we’re giving entrepreneurs the means to back themselves, drive forward and succeed.”
Keywords: oaknorth bank, SME lending, sme, bridging finance, commercial finance, major bank, rishi kholsa, medianett, bridging and commercial,