John Mould

ThinCats lends £112m to UK SMEs in 2018




ThinCats has announced that it lent £112m to UK SMEs in 2018, more than double its 2017 figure.

In total, the alternative finance lender has now lent more than £350m to UK SMEs.

Last month, ThinCats confirmed a £200m funding agreement with BAE Systems Pensions following a £300m funding agreement with Insight Investment.

ThinCats said that it now had £800m of capital to lend to UK SMEs across all regions and sectors, with loans from £250,000 up to £10m.

John Mould, CEO at ThinCats (pictured above), said that 2018 had been a fantastic year for ThinCats.

“Our strong regional and bespoke approach to lending continues to gain support from mid-sized SMEs and the professional business finance community.

“The message is beginning to get through that the banks can’t match the flexibility or long-term investment outlook offered by institutional and retail funders.

“I expect this trend to continue and I would encourage more businesses to look at alternatives to the banks.”

Damon Walford, chief development officer at ThinCats, added: “2018 saw our previous investments in people, data and technology really start to deliver.

“In 2019, we want to carry on where we left off in 2018.”

 

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