Angela Norman, head of corporate development for Recognise, said: “When we were setting up Recognise we identified a need within the professional practice and medical sectors."
Recognise Bank has appointed a head of professional practices and head of healthcare.
Robert Hulse has joined from Shire Professional Funding as head of professional practices and will focus on businesses such as lawyers, accountants, architects and vets.
Recognise said it sees this as an important yet overlooked sector, and has designed a range of professional practice loans for funding needs ranging from tax, insurance and VAT to office refurbishments and management buy-outs.
Jawad Anjum has joined as head of healthcare and will initially be focusing on the medical sector, including businesses like pharmacies and dental practices.
Angela Norman, head of corporate development for Recognise, said: “When we were setting up Recognise we identified a need within the professional practice and medical sectors.
"Both are important industry sectors for the UK, but very few mainstream banks were offering loans tailored to their business needs and financial circumstances.
“Recognise is committed to supporting professional practice and medical firms, and now, with the appointment of Robert and Jawad, we have experts who understand the unique challenges of these sectors. We aim to become trusted partners for these businesses and their brokers by helping them achieve their ambitions.”
Hulse added: “It’s fantastic that Recognise is committed to developing financial products specifically for professional practices, especially when so many other banks and lenders are becoming selective in the professions they work with and are even withdrawing, causing major funding gaps.
"I am looking forward to driving the development of this area and helping to support many more businesses.”
Jawad said: “The role of medical professionals such as pharmacists during the pandemic confirms just how important they are.
"Recognise aims to become a funding partner that understands their business and will help them grow.
“Funding in the medical sector is becoming harder as a lot of banks have tightened their criteria and have little or no local presence.
"Recognise is here to offer accessibility and expert knowledge, alongside first-class service."
