Shawbrook enhances SME loan proposition
Expanded use cases and larger deal sizes aim to fuel more businesses expansion.
Shawbrook has announced a series of enhancements to its SME loan proposition, expanding use cases of its CapEx term loan and offering firms a re-badged unsecured business loan to help more UK businesses in their growth ambitions.
The upgraded unsecured business loan product, previously only available for capital expenditure, can now be used to fund a wider range of business growth initiatives. This includes investment in marketing and customer acquisition, recruitment and training, or business expansion and acquisition.
In addition, Shawbrook has increased the maximum deal size to £250,000 and has extended repayment terms up to 60 months.
Omar El Faramawi, head of external sales for digital SME Lending at Shawbrook, commented: “The enhancement of our unsecured business loan product highlights our commitment to supporting ambitious UK SMEs. Whether that is scaling operations, launching a new product line, or investing in their assets and infrastructure, we want to help more businesses access the funding they need to grow.
“We’ve taken a product that our brokers and customers already trust and made it even more versatile to meet the evolving needs of SMEs. This is a great opportunity for growth-orientated businesses seeking tailored finance to seek new opportunities.”
