Industry Experts | Veronika Lovett co-founder of Esme: Tackling the Stigma of Business Loans

Three years ago, Veronika Lovett was approached by her boss to work on ‘Project Esme’. The proposal was a response to an emerging behavioural trend of self-serving customers and alternative finance. It was clear that people were starting to rely less on institutional high street banks, even if this meant delving into their own personal finance to sustain their businesses.

Veronika, along with co-founders Richard Kerton and Lucy Hasson, formed Esme to confront the ways in which business loans are dealt with. It was apparent to them that a certain stigma had attached feelings of fear and uncertainty to the process of seeking out a loan. The whole idea seemed regressive and in some cases people would end up worse off by trying to sustain business on their own.

Underwritten by NatWest, Esme Loans represents an openness to approach innovation and technology. They stand on their own to realign the relationship between SMEs and banks, and they are doing this though their customer-focused digital platform characterised by simplicity and fast decisions.