The alternative finance provider has helped businesses to achieve funding for growth, acquisitions and both management buyouts and buy-ins since launching in 2015.
In the 12 months to July 2017, Growth Street borrowers collectively generated revenues of £212.7m, returning profits of £22m, according to accounting data collected by the company.
During the same period, its borrowers increased at a rate of over 20% year-on-year.
The finance provider has also developed and launched GrowthLine.
Similar to a flexible overdraft, GrowthLine allows companies to access up to £1m, drawing down and making repayments within their limits as much as they like.
- Growth Street plans to inject £50m into Midlands SMEs
- Growth Street appoints its first CTO
- Growth Street enters broker market
The SME lender is also developing a free automated cash flow forecasting tool to enable business owners to make smarter decisions.
Greg Carter, CEO of Growth Street, said: “At a time when SMEs are under immense economic and financial pressure, we’re proud to have reached the landmark of matching £100m with small- and medium-sized businesses.
“SMEs are the heartbeat of the UK economy and it is critical that this hard-pressed segment of the market gets the funding it needs.
“And we’re just getting started.
“We’re now aiming to deliver another £100m of investment into growing businesses through our platform over the next 12 months.”
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