New SME bank issues first loan

The loan was to Bristol-based Eve Commercial Properties, whose director Nicola Walther has founded The Orange Tree, a new working hub providing desk space and ‘on the go’ meeting rooms for entrepreneurs and small businesses.

In November 2020, Recognise received authorisation with restriction from the FCA and has since launched a range of lending products. It expects to launch personal and business savings ranges later this year.

Jason Oakley, CEO of Recognise Bank, commented: “We are delighted to have issued our first loan, a major milestone in the journey to becoming a leading SME challenger bank. We have been very encouraged by the large numbers of enquiries we have seen since our launch and our relationship management team is working hard to deliver our new customers the quality products and personalised service we promised.

“Bristol is a critical business centre in the UK and our relationship managers are able to work seamlessly across regions of the UK through our cutting-edge cloud-based technology platform. We look forward to helping more and more small and medium size businesses across the UK with their funding needs.”