ThinCats surpasses £100m lending milestone in healthcare sector

ThinCats has announced it passed through £100m of lending to healthcare businesses across the UK, with over £65m funded in the last 12 months alone.

In early 2020, the alternative lender appointed Richard Henshaw (pictured above) to lead its healthcare team and to focus on providing lending options to residential, nursing and dementia care homes, as well as the many specialist care homes in the field.

The firm also expanded its healthcare team with dedicated credit and support services.

Some of the healthcare providers ThinCats has helped with funding so far include We Care Group and Pegasus Care, both of which secured a £5m facility and £4.4m loan respectively.

“We are delighted as a team to reach this milestone and we have a strong pipeline of transactions in the months ahead,” said Richard.

“Healthcare is a huge and important sector for the economy and we’re pleased that we can continue to help businesses grow.”

Mike Hackett, head of business development at ThinCats, added: “Growing our healthcare division and supporting more customers in this space is a priority for us over the foreseeable future. 

“We’ve done a lot of work over the past couple of years to support the care home sector in particular, but there are large number of SMEs in the healthcare supply chain that want to grow and need funding options. 

“We are well capitalised and have the experience to support these companies.”

At the end of June, ThinCats announced that it provided over £1bn in total business lending since its launch in 2011.

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