How SME lenders are supporting their current borrowers
Rangewell, the business finance specialists have today launched ‘Lender Support’.
‘Lender Support’ is a comprehensive list of all lenders who have publicly stated their position to current borrowers, the direct number to call to discuss their loan and what information it would be useful to have at hand.
Lending Support is the third pro-bono project by Rangewell along with their rolling ‘Lender Pulse’; the multi-week insight into credit appetite of lenders to prospective borrowers and Support My Business; the interactive directory where the public can in one easy and remote way find gift vouchers to support their local businesses online to use at a later date.
Lender Support is the home for business to find all the key facts from their lender in one place. For business who need to find this data quickly at their fingertips, Rangewell has collected and published the information for them.
Nic Conner Rangewell’sresearch consultant said:
“Rangewell has today launched Lender Support after a number of partners have asked what various financiers are doing with their current borrowers. Rangewell decided to find out and publish information so business owners and their advisers have all the information in one place”.
“Rangewell are in a privileged position having mapped over 300 SME lenders in the UK and are in daily communication with many of them. Rangewell is pleased to collect and share this key information as a very small way to help during these uneasy times”.
Sample of the report [note: lenders are added in real-time, so this report will grow in the coming hours and days on the webpage]:
High Street Banks
Barclays – Business Banking clients should call 0800 197 1086, (8am to 8pm Monday to Friday) or alternatively contact their relationship manager direct. Barclays are also organising calls and WebEx’s for specific topics around supply chain, etc – current borrowers will be contacted directly with regard to this.
Clydesdale – Customers who are concerned about the impact that the current situation should talk to their relationship manager as soon as possible on 0800-756-0800 or e-mail businessdirect@clydesdalebank.co.uk.
HSBC – HSBC has allocated £5bn to help businesses and their full coronavirus guidance is HERE. Current borrowers with concerns should contact 08000 121614, (9am to 5pm Monday to Friday)
Lloyds – Full details of their support package are available HERE and current borrowers should contact their relationship manager or the client service team on 0345 601 5585
NatWest / RBS – NatWest has pledged £5bn of working capital support for SMEs during the coronavirus outbreak and details are available HERE. Current borrowers should speak to their relationship manager or call 0345 711 4477
Challengers
Thincats – Thincats are making direct contact with all their current lenders and offering bespoke support as required. Any borrower who has not yet had contact should call their relationship manager.
Wesleyan – Borrowers should contact their relationship manager and if they are not able to contact them / not aware of who they are they should contact Sarah Jarvis on 020 8254 1872 or 07795 153014. Borrowers should have their business name, account number (found on bank statements as the direct debit reference), and be able to discuss their request and reasons behind it.
Peer- to-peer lenders
ESME – Any existing customers having issues with repayments should call 0203 936 4800.
Funding Circle – Existing borrowers will have received direct communication from Funding Circle already. If you want to discuss your loan please call 0800 048 2467 (option 1, then option 4 to get to the customer solutions team). Borrowers can also email customersolutions@fundingcircle.com
Lending Crowd – Current borrowers should call 0131 564 1600
Alternative Lenders
365 Business Finance – Borrowers should call 0207 1000 365
Iwoca – Have a coronavirus support page HERE and current borrowers wanting to talk through options should speak to their account manager or call 0203 397 3375. Iwoca are also sending out a regular communication to borrowers as events develop.
Just Cashflow – Current borrowers should call 0141 301 1022 or email customercare@just-cashflow.com. When calling please make sure you have your account number to hand and as much information as possible to help support your case.
Nucleus Finance – Existing borrowers should email – collections@nucleus-cf.co.uk. Please have the name of the business and reference number to hand when you call.
YouLend – Current borrowers should call 0845 600 3573
Property and bridging lenders
4syte – Existing borrowers should call 01245 377032 or email proposals@4syte.co.uk to discuss their loan. They recommend that when they email in and advise of their current situation, the borrower has some detail to hand in terms of what they are asking for in terms of assistance and future plans
