UK lender NatWest has teamed up with pre-paid company card provider Soldo to power its SME lending operations.
The alliance will enable Soldo users to gain direct access to Esme Loans and Rapid Cash lending services.
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NatWest Ventures head Andy Ellis said: “As one of the UK’s biggest banks for SMEs, we’re extremely keen to work with anyone that offers a unique, simple experience that makes it easier for our customers to run and grow their business.
“Soldo is a partner who do exactly that, whilst sharing our passion to do things differently for UK SMEs. We’re thrilled to be working with them.”
Soldo customers can now make business loan applications for a maximum amount of £250,000 through Esme Loans.
Through Rapid Cash, they can also borrow a maximum of £500,000 as a flexible credit line against unpaid invoices.
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By GlobalDataNatWest highlights in 2019
In March last year, NatWest launched a biometric payments card pilot in association with digital security company Gemalto.
A month later, NatWest launched a waiver offer on NatWest business credit card. Under the offer, fees on the card were removed for the first year for new customers.
Notably, in 2017, Soldo teamed up with Wirecard subsidiary Wirecard Card Solutions (WDCS) to introduce a new Corporate Expense Prepaid MasterCard in the UK and Italy.
