Ratesetter ramps up support for North East and Yorkshire

Ratesetter ramps up support for North East and Yorkshire

Peer-to-peer lending platform, Ratesetter, has signalled its intention to step up support for business in the North East and Yorkshire regions with the appointment of Mark Storey as its business finance regional manager.

RateSetter has now lent more than £250m to UK businesses, but it has identified the North East and Yorkshire as an area where creditworthy SMEs are significantly underserved.

Mark joins from Bibby Financial Services, where he was the local managing director covering the North East and Yorkshire. his responsibilities included leading a team of 70, growing the company’s profit to £4.5m per annum and servicing up to 550 clients, ranging from start-ups to multi million pound companies.

RateSetter offers loans from £25,000 to £2m, with terms of three months to five years, with all loan purposes are considered.

Since the start of the year, RateSetter has brought in a number of experienced senior business finance experts in a move to boost its SME lending capabilities.

Brian Cartwright, RateSetter’s Head of Business Finance commented: "Mark is a great addition to our team. Businesses and introducers want to talk to someone knowledgeable who can give them a straight answer and help where required – with great tech and great people we’re building up a first-class business team and providing finance which will enable UK SMEs to grow and increase their productivity.

Mark said: "Joining one of the largest peer-to-peer companies at a time when the demand for alternative funding solutions is growing is very exciting. I look forward to drawing on my experience to help RateSetter support businesses in the North East and Yorkshire."


Click below for more regional business news