Starling and Funding Options support SMEs with fast loans
Now with over 120 lending partners, the company has helped raise approximately £500m between 10,000 businesses in the UK and the Netherlands.
Championing business growth
Throughout the COVID-19 pandemic, Starling has proven itself to be an ally of small businesses as they seek ways to stay afloat. So far, the pioneering challenger bank has issued £2bn of government-backed loans and plans to grow its SME accounts to 18% of the UK market within five years.
“By forming lending partnerships with credit brokers such as Funding Options, Starling is making it easier for small businesses to get access to the funds they need to survive, grow and flourish,” said Helen Bierton, Chief Banking Officer.
For its part, Funding Options has been similarly proactive over the last 12 months: it processed £850m of and enabled SMEs to find and access the funds they needed. Stuart Lawson, CRO, is confident that Starling’s participation will add value to their joint efforts:
“This partnership with Starling Bank is yet another strong signal to business owners that Funding Options will do everything to drive competition in the SME lending market and champion business growth by offering fair, cost effective and competitive choice.”
SMEs: Vital to the economy
Did you know? Anne Boden, CEO and Founder of Starling Bank, was the winner of our Top 100 Women in Fintech list. Read the full article here.
Image source: Starling Bank