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ThinCats, the leading alternative finance provider for mid-sized SMEs, has today announced a new £300 million funding commitment to support the growth ambitions of owner managed businesses across the UK.
Using its primary funding hubs based in Birmingham, Manchester and London, ThinCats is targeting businesses across the Midlands, North West and London & the South East. ThinCats is aiming to deploy over £300m, dedicated to helping entrepreneurs running profitable mid-sized businesses (with EBITDA >£1m) from across these regions to achieve their growth ambitions.
The funding will focus on supporting high-growth, mid-sized businesses using ThinCats’ expertise in providing cashflow loans. These types of business remain underserved by traditional lenders as they often have a low concentration of physical assets to act as security.
Mike Hackett, Chief Commercial Officer, ThinCats: “The good news is that with inflation continuing to fall and the Bank of England signalling that interest rates may come down later this year, there is far more stability in the market. Business owners are now beginning to make decisions again for acquisitions, management buyouts, EOTs or capital restructuring.
“Alternative lenders like ourselves alongside challenger banks and private debt funds are increasingly providing the necessary funding for ambitious, high growth businesses, especially in the regions. Working closely with regional business finance communities , we aim to support many more businesses looking to gain access to flexible debt capital to support their growth objectives.”
