Atom Bank begins lending under trade-in loan program

Atom has started offering quotes on its guaranteed loan products under the Recovery Loan Scheme (RLS), after being accredited by the British Business Bank.

The RLS gives UK businesses access to finance as they recover and grow from the COVID-19 pandemic, with funding that can be used to manage cash flow, investments and growth. Through RLS, Atom will offer secured loans of £ 250,000 to £ 5 million, subject to eligibility criteria, through its network of over 200 independent brokers across the UK.

David Castling, Director of Intermediaries at Atom, said: “I am delighted to announce today that we have been accredited by the British Business Bank to offer loans under the Recovery Loan Scheme and will soon be accepting applications on this base.

“As a bank, we have offered loans through CBILS throughout the pandemic and RLS will allow us to step up our efforts to support UK SMEs and help them grow and recover from the pandemic.

“Our business is run through intermediaries and we really appreciate the relationships we have with our brokers in the UK and we welcome their support once again as we try to distribute cash to businesses when they have it. Not needed anymore.”

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