Esme Loans to support sole traders with lending solutions

Digital lending platform Esme Loans has announced it will now offer business loans to UK sole traders.

Esme Loans’ extended proposition will give sole traders access to loans from £25k to £150k, and comes as the number of sole traders continues to rise, and the demand for business facilities is increasing.

Founded in 2017, the company has already taken steps to accelerate growth this year, working with Microsoft to develop a data warehouse and AI assisted chat bot, as well as partnering with NatWest and Royal Bank of Scotland to offer lending facilities directly to their SME customers.

Veronika Lovett, Esme Loans co-founder and chief marketing officer, explained: “Year-on-year, sole traders continue to be one of the fastest growing types of businesses, but many can struggle to raise the funds they need.

“Currently, around 60% of all UK SMEs are sole traders, and we think they should be treated like any other business when it comes to borrowing, and are pleased to now be able to offer sole traders loans through our simple, fast and stress-free solution.”

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