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Bank of England Base Rate changes: Redwood Bank have passed both Base Rate reductions, totalling 0.65%, to its lending customers.  Read more, here.

Warrington Challenger Bank supports growth in the ‘Northern Powerhouse’ by lending £63m in two and a half years

13/03/2020 09:00:00
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Redwood Bank Warrington has provided vital support to the town and North West by lending £63m to the region.

The money was lent over the last two and a half years to businesses, or to businesses with properties, based in the North West and represents more than 30 per cent of the Bank’s total lending. In Warrington itself this amounted to over £12m.

 

Business therefore continues to boom for the Redwood Bank Warrington office, which has more than doubled the size of its premises in recent months, as well as making two high-profile staff appointments.

 

Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “Our staff are passionate about supporting Warrington and other North-West based businesses, helping them navigate the ever-changing financial and business landscape by offering secured, individually assessed loans and simple, rewarding savings accounts.

 

“Warrington continues to be one of the UK’s most successful economic performers and has a vital role to play in the Northern Powerhouse. The town’s flourishing economic growth has been supported by a commercially-minded council, which is a key shareholder in Redwood Bank.

 

“The council recognises the important role the Bank plays in stimulating and supporting local business in the region. It is this partnership approach that is helping businesses, particularly in the North West, to flourish and grow.”

 

Founded in 2017, Redwood Bank was launched to offer secured SME lending products to owner-occupied businesses, as well as to experienced commercial and residential property investors.

 

Redwood is committed to providing competitive rates. Just last month it launched its newest product, a One Year Business Savings Bond, which was propelled onto the market with a very competitive rate of 1.62 per cent.

 

For further information, visit www.redwoodbank.co.uk

 

 

Notes to editors 


For further details contact Laura Pearce at Strand PR on laura@strand-pr.co.uk or 01763 274674 / 07903 106405.
 

Redwood Bank was launched in August 2017, becoming Britain’s newest business bank for SMEs and completing its ‘mobilisation’ phase just over four months after securing its initial banking licence in April 2017. Redwood Bank offers secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. It delivers fast and efficient mortgage decisions to help their business customers seize property opportunitiesand also offers competitive business savings accounts. Redwood Bank was founded by Jonathan Rowland and Gary Wilkinson. It has a unique private-public ownership structure in which Warrington Borough Council has a one-third stake.