Atom Bank received a record number of applications in the three months to October, up 43% compared to the same period last year.
The bank said the rise in demand followed a series of improvements made to its commercial proposition, such as issuing an agreement in principle within an average of one working day of receiving a fully packaged application.
The lender has also reduced rates and is running a 0.25% rate discount on large loans of between £1m and £4m, available until 29 November.
The value of offers issued in Q3 also helped the bank to set another record, up 142% on the same quarter last year. As a result, Atom Bank has already surpassed the 2023/24 financial year in terms of the value of offers and completions for commercial mortgages.
Tom Renwick (pictured), head of business lending at Atom Bank, said: “Atom Bank is passionate about supporting SMEs across the UK, and these record-setting activity levels show that our products and processes are striking a chord with brokers and their business clients.
“We have made significant improvements to our commercial origination processes to deliver significantly faster credit assessment speeds that allow business borrowers to receive the certainty they require to proceed with their plans quickly.”
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Earlier this month, the bank reported a 47% rise in near prime mortgage applications.
