Partner Article

Atom Bank voices business backing in response to Virgin lending deferral

Following Virgin Money’s decision to defer its SME lending plans in light of economic uncertainty caused by Brexit, Durham-based bank Atom has issued a response calling on lenders to prioritise investment in the nation’s small businesses.

The UK’s first bank designed for digital and optimised for mobile, Atom opened its virtual doors in April earlier this year after gaining regulatory approval to mark the start of its journey.

Craig Iley, Atom’s Managing Director of Business Banking, said: “Now is the time for the banking industry to support these companies and individuals who are key to the future of our economy and the global economy.

“We are a small but growing business ourselves, and proud to be part of the growing northern powerhouse in bringing jobs and innovation to the North East.

“But that’s not enough, and Atom is committed to supporting other small businesses to grow, and to continuing to grow our SME lending offering via our panel of hand-picked intermediaries.”

“Now is the time to prioritise investment in the businesses that will be driving the success of the UK for next decade and beyond; we are not going to take that away.”

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