A transformative year for the alternative lender.
SME lender ThinCats today reported an almost doubling of lending volumes for 2019, spurred on by an increase in the business’s minimum loan size to £1m.
Along with £200m leant throughout 2019 ThinCats also reported a cumulative total of £580m leant since the business formed in 2011.
The figure is up £80m from the figure reported in August of 2019.
“There is a genuine gap in the £1m - £15m space for a lender like ThinCats that understands the needs of these businesses and can offer a bespoke funding service delivered by regionally based origination and credit experts,” said CEO Amany Attia.
2019 was a transformative year for the business as it doubled-down on institutional lending by closing down its retail peer-to-peer platform and appointing ex-Lehman securitisation chief Attia as CEO.
“We have a strong pipeline of transactions for the first half of 2020, showing that UK businesses, perhaps, feel a bit more confident given some easing of the political deadlock surrounding Brexit, although the sooner there is greater clarity on the future trading relationship with the EU the better.”