The alternative finance lender is teaming up with Hennik Edge – the network advisory team for manufacturers – to support companies which require a level of capital to take their businesses forward.

John Mould, CEO of ThinCats (pictured above), said it had an excellent track record of lending to UK manufacturers and had lent £20m over 73 loans to 50 different companies since 2011.

"With this much-needed funding, and with the expertise of Hennik Edge, we can look to raise the pace of our lending even further.

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"ThinCats specialises in providing funding that, in many cases, the high street banks cannot. 

“Whether it’s for working capital, acquisitions, asset purchase or refinancing, we will help to ensure that manufacturing continues to be the lifeblood of the UK economy by supporting growth across the sector."

Steven Barr, managing director at Hennik Edge, added: "We’ve heard from frustrated manufacturers who need a different kind of finance from what’s on offer in the high street.

“This new release of £100m of funding, backed by ThinCats, offers a great alternative for ambitious, growing SMEs."