ONE OF THE BIGGEST BANKS IN THE WORLD IS LENDING TO SMES IN THE UK
June 27th, 2018.



Banking giant BNP Paribas has started financing business loans to SMEs in the UK for the first time.


The company, which advises on assets worth around €568 billion, will invest in direct loans to finance ‘ambitious projects’ in the UK.

Its first loan, which was between £500,000- £5 million, was a six-year senior unsecured amortising loan made to a specialist recruitment firm based in the West of England. This means it is above the range of Funding Circle, who lends a maximum of £500,000 to businesses.

The bank ultimately wants to grow its lending activities to €1bn across Europe per year with at least €400 million from the UK.

Are you eligible?
BNP Paribas chief executive Stephane Blanchoz, Head of SME Alternative Financing told altifi.com that a £500,000 loan will take one week to process while a £5 million loan will take five weeks from application to funding. Eligible SMEs will have annual revenues less than £50 million.


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