LHV Bank increases maximum SME loan size to £5 million

LHV Bank has increased its maximum loan size for SMEs to £5 million.

LHV Bank’s Manchester-based SME lending team offers commercial mortgages for investment properties and trading businesses, with loan amounts starting from £0.5m.

Alongside a regional approach, LHV Bank’s business also prioritises working with commercial brokers. To strengthen this aspect, LHV Bank recently joined the Financial Intermediary & Broker Association (FIBA) and The National Association of Commercial Finance Brokers (NACFB).

In addition to the Manchester office serving the North, LHV Bank plans to begin issuing loans in the South from its London headquarters.

LHV Bank entered the SME lending market in October of last year by acquiring Bank North’s SME lending business and received approval from the FCA to start issuing loans in December 2022. In early May, LHV became the first financial institution in 2023 to secure a UK banking license without restrictions from the Prudential Regulatory Authority.

Becky Owen, commercial director at LHV Bank, said: "Expanding our maximum loan size will allow us to better support UK businesses in achieving their growth ambitions. With our processes, team and technology proven to deliver rapid funding to businesses, our near-term goal is to strengthen our broker network and establish long-term, mutually beneficial relationships.”