BRITAIN’S newest business bank, Redwood Bank, has officially launched its local office in the heart of Warrington – backed by the town’s Borough Council which has a 33 per cent stake in the business.
The new bank, which launched in August, aims to offer a real alternative for small and medium sized organisations in and around Warrington, with the new office spearheading the bank’s lending in the town and its heartland region of the North West.
The bank provides loans to business owners in the area, secured on their commercial property, together with loans to professional landlords, secured on their residential or commercial investment properties. It has also launched Best Buy online notice savings accounts for businesses, clubs, societies, associations and charities. The bank’s products are supported by a highly personalised, relationship driven service from a local, Warrington-based team.
Speaking at Redwood Bank Warrington’s official launch event from the Halliwell Jones Stadium this week, Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said: “We are delighted and proud to be open for business and to launch Redwood Bank Warrington and to confirm our commitment to helping local businesses thrive.
“I would like to take this opportunity to thank the Warrington community for welcoming us into your town and we look forward to helping local businesses unlock their full potential.”
Warrington Borough Council is a major shareholder in the Bank in what is a unique public-private partnership which aims to stimulate sustainable economic growth in Warrington and the surrounding area through community-style business lending.
Cllr Russ Bowden, executive board member for corporate finance, Warrington Borough Council added: “In Warrington, we are doing everything we can to support the local economy and help businesses thrive. It’s an important part of securing a better future for the borough.
These proposals are part of this wider work. It’s about us doing things differently and using innovative financial approaches to support growth and sustainability in Warrington.”
Our partnership with Redwood Bank is the latest example of how we are doing business, through innovative financial practice to secure a better future for the borough.
I’m looking forward to Redwood Bank giving a real boost to the local economy and helping Warrington businesses thrive.”
Redwood Bank is covered by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme, protecting customers’ eligible deposits up to a total of £85,000.
For further information, visit redwoodbank.co.uk/news
