Less than a fortnight after it secured its UK banking licenseLHV Bank is going after the SME mid-market lending market.
LHV Bank, formerly the UK arm of Estonian financial services giant AS LHV Pank but now a separate entity and part of the listed LHV Group, will now offer loans up to £5m.
After acquiring the collapsed fintech lender Bank North last October,LHV has been ramping up its SME lending. Previously so far it has kept this closer to competing with the likes of Funding Circle with its largest loan at c.£2m.
Now it has moved up to offer larger loans bringing it more sharply into competition with mid-market lenders such as Allica Bank,OakNorth and Shawbrook Bank.
https://www.altfi.com/article/10702_lhv-bank-ramps-maximum-sme-loan-size-to-5m