ThinCats

ThinCats announces £200m funding agreement




ThinCats has confirmed a new programme for £200m with BAE Systems Pensions to provide UK SMEs with commercial loans.

The SME lender now has capital of £800m to support UK SMEs after it also secured a funding agreement with Insight Investment in September.

ThinCats provides funding to SMEs across the UK with facilities ranging from £100,000 to £15m.

Damon Walford, chief development officer at ThinCats (pictured above), said that the additional funding programme with BAE Systems Pensions demonstrated its ability to link institutional investor capital to growing UK SMEs.

“Our concerted regional focus and diversified funding sources has driven a significant increase in lending volumes – ThinCats will achieve a record level of funding in 2018.”

David Adam, CIO at BAE Systems Pensions, added: “Our partnership with ThinCats enables us to invest on behalf of our members in an asset class that offers a highly attractive risk-return profile while also making a contribution to UK SMEs by providing much-needed funding to medium-sized SMEs as key participants in the UK economy.”

Ravi Anand, managing director at ThinCats, said it was delighted to enter a new phase of its partnership with BAE Systems Pensions.

“[Its] historic equity support for our business – combined with this new loan funding commitment – ensures ThinCats can continue to support SMEs through the challenges of the ever-changing economic outlook in the UK.”

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