By Roger Baird on Monday 5 August 2019
The Ashby De-La-Zouch-based firm said its small business lending jumped in 2018.
Peer-to-peer platform ThinCats said it has passed £500m of lending as business loans remained strong last year despite “Brexit uncertainty”
The Ashby De-La-Zouch-based firm said it enjoyed a record year in 2018, lending over £200m to medium-sized trading businesses.
The group, led by chief executive John Mould, lends growing firms between £250,000 and £15m.
ThinCats was launched in Leicestershire in 2011, but has built bases in London, Birmingham and Sheffield as it has grown its UK lending.
He added: “By continuing to seek opportunities to plug the funding gap and compete with the banks, we will give growing small and medium-sized enterprises the funding they deserve. It’s great to see that UK small and medium-sized enterprises are continuing to invest in their futures despite Brexit uncertainty.”
The group said it has secured more than £800m of lending capital, mainly from pension funds and institutions, including a £200m funding programme from BAE Systems Pensions signed last December.