Propensio Finance Secures Major NatWest Credit Facility to Boost Sustainable Consumer Loans
Improving Lives through Lending
Founded in 2018 to offer point-of-sale consumer loans for home improvement projects, UK-based Propensio Finance has rapidly expanded its range of finance products. Driven by a mission to promote responsible financial inclusion and make significant social and environmental impacts, Propensio is at the forefront of sustainable consumer lending.
Propensio’s innovative financial solutions now include loans for renewable energy installations, sustainable energy retrofits, accessibility and disability equipment (such as home lifts and specialist aids), and affordable holiday home ownership. Since its inception, Propensio has financed over £101.2 million in projects, with more than £61 million directed towards ESG (Environmental, Social, and Governance) initiatives.
Securing Up to £100 Million in Credit Facilities, Including a £50 Million Sustainability Tranche
After a thorough analysis of Propensio’s strategy and sustainability objectives, including a rigorous audit undertaken by Sustainable Fitch, NatWest’s Specialty Finance team agreed to provide a Revolving Credit Facility (RCF) of up to £100 million. This facility includes a ground breaking £50 million Sustainability Use of Proceeds tranche.
This unique sustainability tranche, the first of its kind for NatWest, will empower Propensio to:
- Enhance financing support for customers aiming to reduce their home’s emissions through insulation and renewable energy solutions.
- Offer dedicated accessibility finance for customers with disabilities.
Today Propensio work with over 2300 retailers and installers across the UK, offering finance to their customers, which in turn makes the sustainable products and projects more accessible.
This facility not only enhance the support to retailers and their consumers, but will of course reduce carbon emissions further.
Aligning with NatWest’s Sustainability Goals
Dave Hindle, CEO of Propensio, stated: “This sustainable financing package is the result of our extensive work on our Sustainable Finance Framework. We are extremely grateful for NatWest’s support and guidance. The new funding enables us to accelerate our growth and solidify our position as the UK’s leading Point of Sale finance company, supporting the nation’s transition to renewable energy.”
Robert Lamont, Specialty Finance at NatWest, added: “We are delighted to support Propensio with this special credit facility, which includes a Sustainability Use of Proceeds tranche. This financing aligns closely with our purpose to champion potential and proactively support the UK’s transition to a more sustainable economy by providing £100 billion in climate and sustainable funding and financing by the end of 2025.”
