ThinCats, a leading alternative lender, has today announced it has provided £2bn of funding for mid-sized UK SMEs.
This £2bn milestone follows a record lending year for ThinCats, reaching £378 million in funding in the financial year ending June 2024.
ThinCats, ranked number 1 provider of debt funding to UK businesses in Experian’s latest MarketIQ report, has continued to grow and provide much-needed support to businesses across the UK. ThinCats lends to a range of businesses from manufacturing and hospitality businesses to those in the care sector and professional services. The launch of the healthcare proposition in 2020, along with ThinCats sponsor franchise have been instrumental in this continued growth.
The business lending market has substantially evolved with a greater number and range of finance providers than ever before, with challenger banks and alternative lenders now collectively lending more than the four largest UK banks (BBB Small business finance markets report 2023/2024).
Looking ahead to 2025, ThinCats expects to see increased activity in the market with many mid-sized SMEs looking for finance to scale up and acquire.
Mike Hackett, Chief Commercial Officer at ThinCats: “This milestone reflects ThinCats’ dedicated approach to the mid-size market and support for the local finance community with whom we work in partnership to help mid-sized businesses thrive. ThinCats’ commitment to regional investment has been a critical driver of growth and we have built up experienced teams across our network of regional support offices, and they work hard to deliver flexible funding solutions for mid-sized businesses across the UK”.
Read the orginal article: https://ffnews.com/newsarticle/funding/thincats-passes-2bn-funding-milestone-for-uk-smes/
