While the funding milestone of £300m was targeted this year, the business financier had already hit the £260m mark six months into 2016 when it reported a 35% rise in funding to SMEs.
The landmark figure includes the number of invoices purchased and loans made since inception.
Jonathan Wilder, CEO of Catalyst Finance, said that there were also major growth plans for the rest of the year and into 2017 following the achievement.
“2016 has become a standout year for us.
“We’ve excelled in the number of deals we have completed [in the] year to date and [the] size of the facilities we are providing has grown by 87%.
“This achievement comes off the back of our highly successful half-year results, too.
“The business is going from strength to strength and it’s clear that we are providing flexible and simple financial products which our intermediaries find easy to recommend and their clients find easy to use.”
Catalyst recently launched its new website and a portal for intermediaries, allowing them to submit leads quickly, check on the status of their applications and what commission they have earned.
“There are also significant growth plans for the rest of this year and into 2017 which will help us continue to successfully achieve our growth aspirations.”
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