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NatWest finds capital in an alternative partnership 21 November 2016

All NatWest’s business and commercial customers will benefit from a new, expanded panel of alternative lenders to which they can be referred if their application for finance is declined by the bank.

The panel, Capital Connections, builds on NatWest’s existing partnerships to signpost small business customers to alternative sources of finance.

The initiative is now entering its final full launch phase, following a pilot which introduced a wider panel of all five lenders to commercial customers with a turnover of up to £25m in south west England, Wales and Scotland earlier this year.

Capital Connections includes two peer-to-peer platforms which are already working with NatWest to support business customers; Assetz Capital and Funding Circle.

They will be joined by Iwoca, which offers working capital financing to small businesses, RBS Social and Community Capital for social enterprise and charity lending, and Together, a secured lender.

Providers have been selected to cover different funding products and include a mix of speciality finance and peer-to-peer lending. More partners will join Capital Connections in the coming months.

Customers can choose to contact any of the funders directly or be referred to a provider on the Capital Connections panel by their relationship manager. There will be no commission paid as a result of any referrals.

Alison Rose, chief executive of commercial and private banking at NatWest, said: “Following a successful pilot, we will now be able to formally refer all business and commercial scale businesses, across England and Wales, to an unrivalled panel of experts and professionals with a wide range of lending appetites.”

Funding Circle, which works with a panel of insolvency practitioners to help struggling businesses that it helps provide finance for, will appear at Credit Strategy’s F5 conference on December 13.

Funding Circle’s chief risk officer Rahul Pakrashi will be appearing on a panel.

The conference, which focusses on the alternative lending sector, will be held on the same day as the F5 Awards at the same venue – the Hilton London Bankside.

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