New £200m funding agreement for SMEs unveiled by ThinCats

    Damon Walford

    ThinCats, the Leicester-based fintech lender, has this week unveiled a new programme for £200 million with BAE Systems Pensions.

    The new funding agreement aims to provide SMEs in the UK with commercial loans and follows a significant loan funding agreement with Insight Investment back in September.

    ThinCats now has capital of £800 million for the funding of UK SMEs across the full risk spectrum in all regions and sectors from £100,000 to £15 million.

    Damon Walford, Chief Development Officer, ThinCats: “This additional funding programme with BAE Systems Pensions demonstrates our continued ability to link institutional investor capital to growing UK SMEs.

    “Our concerted regional focus and diversified funding sources has driven a significant increase in lending volumes– ThinCats will achieve a record level of funding in 2018.”

    David Adam, CIO of BAE Systems Pensions, added: “Our partnership with ThinCats enables us to invest on behalf of our members in an asset class that offers a highly attractive risk-return profile while also making a contribution to UK SMEs, by providing much needed funding to medium sized SMEs as key participants in the UK economy.”