ThinCats reveals £300m funding agreement

ThinCats has announced a new programme for up to £300m with global asset manager Insight Investment to fund UK SMEs with commercial loans.

The SME lender revealed that on top of the £300m from existing investors, it now had a potential £600m to fund UK businesses across the full risk spectrum in all regions and sectors. 

Damon Walford, chief development officer at ThinCats (pictured above), said that this new programme put it right in the mix with traditional lenders.

“We have responded to a market need to provide lending at a cost of capital that reflects the lower risk associated with established strong businesses and thereby offer a real alternative to bank funding. 

“By combining big data and technology, with dynamic credit and client servicing skills, we are simplifying traditional lending models.” 

Shaheer Guirguis, head of secured finance at Insight Investment, said its secured finance strategy continued to seek compelling assets that provided its clients with complexity premium above comparably rated corporate credit securities. 

“Our partnership with ThinCats represents our commitment to source the most compelling investment opportunities in specialist lending markets, such as SME loans. 

“We have worked closely with the ThinCats investment team and been impressed by their focus and clear commitment to developing a resilient, long-term lending platform for SMEs. 

“In an era in which banks are retrenching from certain lending markets due to regulatory considerations, this is a concrete example of how institutional investors, such as pension funds and insurance companies, can step in to support SMEs and UK economic activity across the country.”

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