BankNorth

BankNorth, the trading name for B-North Limited, was a financial firm designed to serve the UK's regional SME lending market. Founded in 2018, its mission was to revolutionise business lending by combining a modern, cloud-based technology platform with a regional 'pod' model. This approach placed experienced lenders directly in local business communities to build relationships and deliver debt finance significantly faster than traditional banks. Despite raising over £50 million in funding and being granted a restricted banking licence (AWR - Authorisation with Restriction), the company failed to raise the necessary final round of capital to meet the Prudential Regulation Authority's (PRA) requirements for a full, unrestricted banking licence. Consequently, it ceased operations and appointed administrators in October 2022.