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Atom Bank Harnesses Recovery Loan Scheme for Secured Lending

Following accreditation by the British Business Bank, the UK online banking platform Atom has begun to offer quotes on its secured lending products under the Recovery Loan Scheme (RLS).

Having acted as one of the primary providers of broker-led secured lending to new and existing customers under the Coronavirus Business Interruption Loan Scheme (CBILS), Atom’s recently acquired RLS accreditation confirms the bank’s continuing financial support for businesses across the UK.

RLS gives UK businesses access to finance as they recover and grow following the Covid-19 pandemic, with funding that can be utilised for managing cash flow, investment, and growth. Through RLS, Atom will offer secured loans from £250,000 up to £5 million, subject to eligibility criteria, via its network of 200+ independent brokers across the UK.

Atom has built a business lending book of over £725 million, with the Durham-based mortgage and business lender closing the last financial year with an income well above projection, and a Net Interest Margin (NIM) registering in excess of 110 basis points.

This comes after the banking platform reached its 2020-21 lending targets one month ahead of schedule following a large interest for its CBILS-backed secured loans.

With simple and transparent secured business lending products and a history of lending to UK SMEs since 2016, Atom has invested in a programme of Open Banking and automation capabilities as it seeks to deliver a further £1 billion in business lending over the next two years.

“Atom is delighted to have been accredited by the British Business Bank and to start lending under the Recovery Loan Scheme. Ever since we started lending to UK SMEs in 2016, we have been committed to supporting business owners,” comments Paul Elliott, Head of Mortgages and Business Lending at Atom. “Having been a leading lender of broker-led secured lending to new customers under CBILS, we will continue to welcome new customers and to support our rapidly growing group of existing customers with secured RLS loans.”


  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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