Capital on Tap.
Capital on Tap bags £450m to fund its lending in the UK
The alternative lender has lent more than $3.5bn to SMEs in the UK and the US since 2012.
UK-based lender Capital on Tap has secured a £450m funding facility to help fuel its growth in the UK.
“We are extremely pleased to be working with Atalaya, BNP Paribas and HSBC, who with the provision of this funding facility will enable Capital on Tap to support a greater number of SME’s who are overcoming the economic effects of Covid-19,” Alan Hart, CFO of Capital on Tap, said.
“Working remotely whilst reaching agreement on the facility created its own challenges, which we would not have conquered swiftly without the hard work and dedication on all sides.”
“Capital on Tap has built a useful product that has helped thousands of small businesses in the UK meet their funding needs,” James Intermont, principal at Atalaya, added.
“We are excited to support their continued growth in the UK and Capital on Tap’s underlying small business customers with this credit facility.”
The alternative lender also recently bagged a $100m credit facility, again from Atalaya Capital Management, to help it spur on its American lending.