ThinCats heralds “record” 2019 as lending reaches £200m

By Oliver Smith on Monday 13 January 2020

Alternative Lending

A transformative year for the alternative lender.

ThinCats heralds “record” 2019 as lending reaches £200m
Image source: Photo by RUN 4 FFWPU from Pexels.

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.”

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