The challenger bank has lent nearly £100m since the start of the year, around £60m of which has been since lockdown began on 23rd March. 

Gary Wilkinson, CEO and co-founder of Redwood Bank (pictured above), said: “We’re completely committed to, wherever possible, helping businesses grow, refinance and diversify, particularly as many are now having to deal with the consequences of Covid-19 — and our figures speak for themselves.

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“Reaching this momentous milestone in just under three years shows that we have had, and still have, a strong appetite to lend.
 
“Being such a dynamic and flexible bank meant we could easily adapt our ways of working throughout the lockdown and it’s clearly worked, as customers are still putting their trust and faith in us. 

“As lockdown measures continue to ease, now is the time for SMEs to start getting back on their feet, and we’re here, ready and waiting to support them.”
 
Redwood Bank’s business customers have also collectively saved around £350m with them since it opened.  

The bank confirmed that no employee was furloughed during lockdown, and has continued to hire, with 10 new employees having started during the Covid-19 period, one due to start shortly, and 14 new roles currently being recruited.
  
Redwood Bank provides individually-assessed mortgages for business owners and professional landlords, as well as a range of best buy savings accounts, which are offered to businesses, charities, clubs and associations.