Warrington Council takes £30m stake in Rowlands’ new SME bank
Warrington Council has taken a 33% stake in Redwood Bank, a subsidiary of Redwood Financial Partners controlled controlled by multi-millionaire and major Conservative Party contributor David Rowland and his son Jonathan, for £30m.
The Labour-controlled council’s executive board has approved the investment as part of Redwood’s capital funding.
Redwood Bank will offer secured SME lending products to owner occupied businesses, as well as to experienced commercial and residential property investors. It will also provide busines... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
