ThinCats dished out £289m to medium-sized business in 2020

Over the last three years, ThinCats has lent out over £600m to businesses across the UK.

Alternative lender ThinCats facilitated £289m worth of loans to mid-sized businesses last year.

The fintech was one of the first to be accredited to the government-backed Coronavirus Business Interruption Loan Scheme (CBILS) in April 2020. It was also one of the few alternative lenders accredited to the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

Amany Attia, CEO of ThinCats, said: “The economic impact of Covid-19 will be long felt so it’s vital that businesses can access the funding they require. Alternative lenders like ThinCats have demonstrated that there is an important role for non-bank lenders dedicated to support growth businesses that will drive much of the post-pandemic economic recovery.” 

“Looking into 2021 there will be further funding requirements for many businesses as they look to invest, acquire and grow. We have substantial amounts of lending capital to deploy and look forward to supporting many more mid-sized businesses with their specific needs over the next 12 months.” 

ThinCats also revealed that it had another record-breaking year, dishing out 45 per cent more funding in 2020 than it did in 2019, smashing the record it set the year before.

Due to increasing demand, ThinCats responded to demand for funding from specific sectors by creating specialist teams to help firms in the healthcare sector and private equity-backed businesses access the funding they needed.