NatWest launches new grant finder service with Swoop

By Megha Bhattacharya

NatWest today announced the launch of a new grant finder service in collaboration with Swoop. The new service is expected to allow UK businesses to search for grants in a bid to support their businesses during the COVID-19 pandemic. NatWest wants to provide SMEs with greater access to third party funding which is not in the form of debt. It also aims to help connect these entrepreneurs with grant providers such as National Schemes, Local Authorities, Growth Hubs, Local Enterprise Partnerships (LEPs) and privately funded schemes.

Andrew Harrison, Head of Business Banking, NatWest said, “We know how challenging and unsettling this last year has been for the UK’s entrepreneurs and SMEs. The tenacity and resilience this group have shown in the face of so much uncertainty has been inspiring, and we’re pleased to have been able to help so many businesses access the funding they’ve needed, whether through our delivery of government schemes or through more conventional lending.

“But we know borrowing isn’t right for all businesses at this moment in time, which is why we’re delighted to be working with Swoop to offer business leaders simple access to the vast array of grant funding currently available across the UK. Swoop is the only holistic source of third party grant options in the UK, and together we want to help more entrepreneurs than ever before grow, thrive and survive as we look forward to a brighter 2021.”

According to NatWest, the new platform will allow businesses to quickly and efficiently access tailored grant options. Following the completion of a simple questionnaire, applicants can review grants matched specifically to their business, and can choose to apply directly or request assistance from Swoop. Applicants do not need to be existing NatWest customers to use the new service, which can be accessed through the bank’s website.

Recently, NatWest announced an additional £1 billion in funding to help support female-led businesses in the UK recover from the COVID-19 pandemic. The company has also committed to creating an additional 35,000 new businesses in the UK by the end of 2021, focusing its efforts on underrepresented groups and geographical inequality.

Andrea Reynolds, CEO of Swoop said, “We’re thrilled to partner with Natwest to deliver this much-needed solution to all SMEs across the UK. Our mission is to empower entrepreneurs to make the right financial decisions every day by bringing all their finance options together in one place, personalised to their specific business circumstance.

“Now more than ever SMEs need the right information at their fingertips. By combining the reach of Natwest with the power of Swoop’s advanced technology together we’re ensuring SME access to grants can support recovery and growth as we move into 2021 and beyond.”