The rebrand follows six months of the intermediary only lender trading as WLB after the bank bought Commercial First’s lending platform in March this year. In August the bank also acquired secured lender Link Loans.
The decision to rename the firm is to reflect the “next step in our evolution”, said WLB new business director Stephen Johnson.
He said: “Becoming Shawbrook Bank isn’t about throwing away any of our well respected heritage, it’s about using everything we have learnt to become even better.”
The bank commissioned research revealing nine out of ten SMEs believe the country’s banks fail to use common sense when they make decisions about business loan applications.
Some 45% of SMEs also feel banks are too bureaucratic when dealing with small businesses while only 6% of SMEs feel confident that banks are clear and transparent in their dealings with small business customers.
Johnson added: “Our straightforward, common sense processes will make it easier for brokers to win business, and will help to meet the needs of many credit-worthy SMEs and personal customers looking for a bank that can act quickly and efficiently when a loan is needed.
“Brokers and other intermediaries are key to our business and we will be doing all of our lending through this channel. We want to help grow this share of the commercial and personal lending market.”