Redwood Bank hits £250m lending milestone

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  • 18/08/2020
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Redwood Bank hits £250m lending milestone
Redwood Bank has completed over £250m of lending to customers less than three years since it launched.

 

The bank has continued to fund small and medium enterprises (SMEs) throughout the pandemic, loaning £100m since the start of the year. Of the £100m loans, £60m was released since lockdown began in March.   

The team has also expanded during the pandemic, with 10 employees joining the bank and 14 new roles currently being recruited. 

Redwood Bank provides mortgages for business owners and professional landlords, as well as a range of savings accounts, which are offered to businesses, charities, clubs and associations.  

Gary Wilkinson (pictured), CEO and co-founder of Redwood Bank, said: “We’re completely committed to, wherever possible, helping businesses grow, refinance and diversify, particularly as many are now having to deal with the consequences of Covid-19, and our figures speak for themselves.  

Reaching this momentous milestone in just under three years shows that we have had, and still have, a strong appetite to lend.”

 

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