Atom bank hits One Billion in SME lending
15 October 2021
Atom bank, the Durham-based fintech, is celebrating hitting £1bn in lending to SMEs.
The milestone, which was reached on 15 October, includes all completions originated through Atom’s own secured lending and also the bank’s ongoing partnership with Funding Circle to provide unsecured loans to UK SMEs.
This latest milestone comes after the UK’s first app-based bank reached several other significant customer and commercial highpoints.
Edward Twiddy, Chief Customer Officer at Atom bank, said: “It’s been a really successful year for Atom, delivering our first month of operating profit in June, surpassing the £3bn mark in mortgage lending in July and reaching £1bn of deposits into Atom’s Instant Saver product too.
“We were delighted to have made the 1,000th secured loan to an SME customer earlier this summer and now, passing the £1bn mark in SME lending is another significant milestone that we can check off. Combined with our long-established delivery of excellent customer satisfaction indicators we are showing that good banking and profit are one and the same; a core truth that we will take forward as we continue to grow and prepare for IPO.”
An established business lender since 2016, Atom has most recently been an important part of both the Coronavirus Business Interruption Loan Scheme and now the Recovery Loan Scheme for businesses, offering new-to-bank and existing customers access to lending both before, throughout and now as we emerge from the pandemic.
Continuing to be one of the highest ranked UK banks, Atom provides fast, transparent and good value customer experiences, with a Trustpilot rating of 4.6 and a Net Promoter Score for business lending of +88.
Note to Editors
For more information contact:
Becky Dolan (PR Manager) Becky.Dolan@atombank.co.uk
Leigh Peacock-Goodwin (Head of Marketing & PR) Leigh.Peacock-Goodwin@atombank.co.uk
For Atom bank news and press releases, visit www.atombank.co.uk/newsroom
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About Atom bank
Atom bank launched operations in April 2016, offering market-leading Fixed Saver accounts and secured business lending for small and medium-sized enterprises (‘SMEs’), followed by its automated mobile mortgage proposition in December 2016. Atom launched an Instant Saver in September 2020. With a competitive rate, no short-term bonus, no limits on withdrawals and no minimum amount required at opening, the instant saver offers people much-needed flexibility while their cash works harder for them.
Atom is a mobile only and customer first bank. Based in the North East of England with a team of over 400 people, they’re here to do the right thing by their customers with outstanding levels of customer experience whilst taking the fight to the incumbents with exceptional levels of efficiency. At the heart of the bank is the app, with an award-winning customer support team on hand to help with any queries through phone, chat, email and social media