New retail bank launches SME finance brand

The Metro Bank, dubbed ‘the revolutionary High Street bank’ when opened in 2010, has moved into the small business finance market. Metro Bank SME Finance was launched following the acquisition of SME Invoice Finance and Asset Finance in August 2013.

This new service is designed to offer flexible financing solutions for Britain’s small and medium-sized businesses. This will include invoice discounting, factoring and cash-flow funding for entrepreneurs and companies across the UK.

John Wilde, Director at Metro Bank SME Finance, said: “We’re delighted to be launching the new Metro Bank SME Finance brand and accompanying website.

“The creation of Metro Bank SME Finance is a significant milestone for us following a successful first year of integration, as it enables us to deliver an enhanced proposition to our customers, backed up by amazing service.”

Metro Bank expansion

When founded four years ago by American businessman Vernon Hill, Metro Bank was the first bank in more than a century to be granted a license by the Financial Services Authority – providing some much-needed competition for the few big players in the market.

Entering into the SME market is the latest move in the bank’s ongoing successful expansion plans.

Jason Oakley, Managing Director of Commercial Banking at Metro Bank, added: “As a champion of small businesses and entrepreneurs, we have both a strong appetite to lend and are committed to delivering fast, flexible funding with unparalleled levels of service.”