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Growth Lending launches new client referral scheme

The alternative lender offers rewards to its portfolio of clients who refer new business

Maddie Dumpleton

Growth Lending is proud to have a strong and diverse portfolio of clients, but is always on the lookout to support more SMEs and their funding goals. As a result, the business has been on a mission to launch a new referral scheme that offers rewards to its existing clients that recommend potential new business partnerships. 

The new initiative follows the success of Growth Lending’s trial scheme in 2021, where for every successful referral the firm donated £500 to COVAX – a charity assisting in the delivery of Covid-19 vaccines worldwide.

The new scheme aligns with Growth Lending’s commitment to work in partnership with its clients, giving referring firms the autonomy to decide how they would like to use the cash reward.

Driven by clients, for clients

Enhancing the client experience is a key priority for Growth Lending, with regular client satisfaction surveys at the heart of this commitment.

“Feedback from our most recent survey suggests that our clients are extremely pleased with the service delivery and very likely to recommend us to other businesses,” says portfolio manager – and driver of the new scheme – Rob Adams.

“Based on this feedback, it is clear that our funding managers are intently focused on providing outstanding service to our clients, being supportive, quick to respond, solution-orientated, clear in their communication and generally personable,” says fellow portfolio manager Johan van der Walt. 

“We endeavour to maximise funding and provide a consistent and reliable service that is second-to-none,” adds Adams. “The new scheme is a way to incentivise clients to introduce new business and reward them for their loyalty in the process.”

What is the scheme? 

For every referral that Growth Lending successfully funds, the firm will offer the client a cash sum of:

£2,000 for any new business with revenue of £5m+

£1,500 for any new business with revenue > £2.5m and < £5m

£1,000 for any new business with revenue < £2.5m

No ordinary referral scheme

In a bid to match Growth Lending’s commitment to being #NoOrdinaryLender, the firm will also be offering clients the option to give an equivalent donation to a charity of their choice, or to purchase Red Letter Day vouchers to the value of the cash sum, for clients to use as they wish.

This feature was an important distinction of the scheme for Adams when conducting his research into similar initiatives in the market,  as it enables referring clients to reward their own teams, with exciting activities such as driving days, weekend breaks, spa trips and more. 

“We are excited to launch our new referral scheme for 2022, which will both recognise and reward our clients for the successful referrals they place with us,” he says. “Drawing on our client interactions and research of what is on offer elsewhere, we believe our new scheme goes above-and-beyond similar initiatives and will appeal to our diverse client base.”