ThinCats provides record £200m in SME finance across 2019

ThinCats provides record £200m in SME finance across 2019

ThinCats has announced a record year of lending for 2019, with more than £200m of SME finance provided — almost double its 2018 figure.

The alternative lender — which has increased its minimum loan size to £1m — has now lent over £580m to SMEs across the UK.

“Having reviewed the UK SME lending market, we see a real need for our particular lending model dedicated to the ‘Ms’ of SMEs,” said Amany Attia, chief executive officer at ThinCats.

“These medium-sized businesses, while often well established, may not be large enough to gain the proper focus and attention from the banks, while their needs are too complex for the online-only lenders.

“There is a genuine gap in the £1m–£15m space for a lender like ThinCats that understands the needs of these businesses and can offer a bespoke funding service delivered by regionally based origination and credit experts.”

Amany also stated that ThinCats would be looking to develop its specialist services for private equity-backed businesses in addition to those in the healthcare and leisure sectors.

“These initiatives mean we can now offer even more competitive terms to the high-quality borrowers in each of these segments.

“We will, of course, continue to provide a focus and first-class service to businesses across all sectors.”

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