OakNorth was created with a single vision in mind – to empower entrepreneurs to grow their businesses. The bank, which gained regulatory approval in early 2015, was borne out of the experiences of its founders, who encountered first-hand the challenges of financing a growth business in the UK. Most businesses can raise finance if they have property to secure their loans. However many of today’s growth businesses are not property rich – they prefer to invest in their business rather than bricks and mortar. Some businesses are in sectors that have “fallen out of favour” with the big banks while others have unusual structures and end up with a “computer says no” response from traditional banks. This means growth businesses often have to revert to more costly sources of finance or in some cases fail to find the funding they need. This adds to the growing problem of good businesses which fail because of the lack of affordable, relevant financial support available to them. By taking a fresh look at traditional banking, we’re able to support the ambitions of entrepreneurs and growth businesses through an innovative and insightful approach to business lending, with loans which are backed by cash flow or a mix of other assets (such as receivables or inventory). All savings deposited by our customers are invested in supporting entrepreneurial growth businesses in the UK, so saving with OakNorth means that not only do customers receive great returns on their deposits, but are also contributing to the growth of British business.