Founded in 2018 to offer point-of-sale consumer loans to fund home improvement work, UK company Propensio has expanded its finance products over the last three years based on its ambition to champion responsible financial inclusion, and to make both a social and environmental impact through its offering.

Consequently, Propensio’s new products include, amongst others, lending for renewable energy installations, sustainable energy retrofits, accessibility, and disability equipment (such as home lifts, specialist aids), and affordable lending for UK families to enjoy holiday home ownership.

Last year, Propensio’s funding since its inception totalled over £101.2 million of which more than £61 million went towards financing ESG projects.   

Looking for funding options to deliver on its growth strategy and sustainability purpose, Propensio approached its banking partner NatWest for advice.

Analysing Propensio’s growth strategy and discussing the firm’s sustainability proposition and resulting financial requirements, NatWest’s Speciality Finance team agreed a Revolving Credit Facility of up to £100 million, which incorporates a Sustainability Use of Proceeds tranche of up to £50 million. This sustainability tranche, the first of its kind for NatWest, will allow Propensio to achieve its sustainability objectives: 1) to optimise financing support for customers seeking to improve their home’s EPC rating through insulation and renewable energy solutions; and 2) to offer accessibility finance for customers with disabilities. 

Dave Hindle, Propensio’s CEO, commented: “This sustainable financing package represents the culmination of our work we invested in our Sustainable Finance Framework, and we are extremely grateful for the support and guidance from NatWest. The new funding allows us to accelerate our growth to become the UK’s premier Point of Sale finance company funding the UK’s transition to renewable energy.”

Robert Lamont, Relationship Director, NatWest, said: “We are delighted to have the opportunity 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 to 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.”