Northern Powerhouse’ challenger bank celebrates Warrington third birthday
Despite the Covid-19 pandemic Redwood Bank’s Warrington based team has “braved the financial storm” and reached the momentous £100m lending milestone just before its third anniversary.
Located at The Base in Dallam Lane, the challenger bank officially opened its doors on 23 October 2017.
Since then, staff have successfully navigated the threat of Brexit and the global coronavirus crisis, two major events which have significantly impacted the financial landscape.
Despite the Covid-19 pandemic Redwood Bank has continued to lend and in the last three years has advanced £103m to businesses and professional landlords in Warrington and across the North West.
Over the course of the lockdown, Redwood has chosen not to furlough any staff and instead, has continued to recruit. In addition, due to its innovative cloud-based infrastructure, the transition between moving from the office to working from home has been seamless for all employees.
Gary Wilkinson, CEO and co-founder of Redwood Bank, said: “The last three years have certainly been eventful, but our committed, talented and dedicated staff have braved the most recent financial storm.
“Together, we’ve created our own Northern Powerhouse as we’ve proven that we remain strong no matter what is thrown at us. It’s hugely rewarding to look back and see just how far we’ve come, continuing to lend during a pandemic, which further shows how passionate we are about supporting North-West based businesses.”
Since its 2017 inception, Redwood Bank has tripled its workforce, scooped 21 awards and attracted more than 4,000 customers, has lent £300m and currently holds deposits of £335m.
Redwood Bank was launched to offer secured SME lending products to owner-occupied businesses, as well as to experienced commercial and residential property investors.