Salad Money continues to grow with funding support from Shawbrook

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Client Salad Money
Sector Public Sector
Facility Revolving Credit Facility
Funding Need Growth
Value Undisclosed
Team Speciality Finance

 

Existing client Salad Money has upsized its facility with Shawbrook Bank. This additional funding will help thousands of hard-working public sector employees access fair, affordable credit. 

Salad Money has worked with Shawbrook since March 2021 when the Speciality Finance team structured an Uncommitted Revolving Loan facility to support funding for NHS staff.

Shawbrook built a strong relationship with the Management Team. Following a period of rapid growth and expansion into the wider Public Sector, Salad Money approached the bank to increase its facility.

Phillip Hyett, Finance Director of Salad Money, said:

“Access to affordable credit remains a challenge for many people. We are building an alternative to high-cost credit. Using Open Banking to underwrite our applicants is both fairer and more efficient than reliance on traditional credit scores. Shawbrook has demonstrated real commitment to our business, and we are delighted that they have reaffirmed their support with this increased facility.”

Mark Jarvis, Director of Shawbrook Bank said:

“Recognising that key workers in the public sector required access to affordable finance, Salad Money introduced an efficient lending platform and we worked closely with the team there to arrange initial funding to back this new offering. Salad Money has seen continued growth as they have scaled up the business and we have increased our lending facilities in line with this growth. We look forward to working with Phillip and the team as Salad Money continues to support this critical sector.”

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