Recognise Bank has received outstanding reviews from strategic lending partners, Reflex Property Finance and Blue Shield Capital, after completing over £25 million worth of complex deals with the two bridging loan companies.
The bank excelled in all areas according to recent satisfaction surveys, which covered the entire deal journey from response to loan enquiry, credit approval to drawdown and regular communication.
The surveys revealed that both partners are keen to work with Recognise Bank again and new loans worth an estimated £20 million are already in the pipeline.
The multi-million-pound deals reflect renewed lending impetus from Recognise Bank following a £25 million equity injection earlier this year from its majority shareholder.
The news comes at a time when banks are often criticised for delays and inefficiencies and lack of suitable support for SMEs. Benjamin Peters, Director of Strategic Partnerships at Recognise, says: “We’re delighted to receive such high commendations from Reflex and Blue Shield about our dealings with them. It is great to work with like-minded organisations and the success of these deals is not only down to the efforts of our dedicated team, but also the alignment of our business models, lending criteria, and importantly, culture and innovative approach.”
“We are extremely pleased with the growing success of our partnership with Recognise Bank,” says Jonathan Morgan, from Reflex. “Reflex needs to act fast on acquisitions and Recognise completely understands and supports our needs. The expert knowledge and commitment of the Recognise team has enabled us to execute complex deals at speed.”
Gil Ulrich, from Blue Shield has had a similar experience: “It’s great to form a long-term partnership with Recognise, a bank at a similar stage of growth to us. We’re like-minded in our ambitions and values and have encountered excellent service. Recognise Bank quickly grasped a real understanding of our business model across the several projects completed so far, and we look forward to working with them again in future.”
Recognise operates as a co-lending partner with Reflex and Blue Shield and has completed loans ranging from £2 million to over £4 million in value with them so far this year.
These include two deals totalling over £7 million for clients of Reflex, as well as assisting a customer of Blue Shield Capital in the purchase of a vacant Asda store in Stamford Hill to obtain planning approval for a residential scheme, where Recognise provided a £4.26 million loan.
A fully licensed digital bank, Recognise is on a mission to revolutionise SME banking in the UK by ensuring quick lending decisions and fast access to funds, helping to build stronger relationships with small businesses – the lifeblood of the UK economy. It has a growing network of regionally based relationship managers who work closely with small business owners and brokers to help achieve their financial goals.
As well as bridging loans, Recognise Bank’s lending products include loans for professional Buy to Let investors, commercial property mortgages, and business loans tailored for professional firms and the wider SME community to support trading businesses.