The lender has struck a deal that will see Chenavari, an asset manager, commit up to £300m.
Completed last week, this new deal provides committed capital of £300m and further extends SME Capital’s lending capability.
SME Capital says its average loan application currently sits around £2.9m, this new deal will enable SME Capital to expand into larger deals and consider loans of up to £6m.
James Kaberry, Chief Executive of SME Capital says the firm has several further deals in its pipeline.
“This is an exciting time for SMEs looking for finance and this new partnership with Chenavari underlines our stated ambition to deliver unparalleled bespoke funding solutions to these UK businesses," he said.
Benoit Pellegrini, Partner & Senior Portfolio Manager at Chenavari said: “We, at Chenavari, are excited to expand our Direct Origination investments through this new partnership with SME Capital. We believe that SME Capital’s unique offering, combining streamlined processes and thorough credit analysis, will provide bespoke financing solutions to the real economy and especially the underserved mid-market SME segment.”
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