ThinCats, a UK-based alternative business lender, has secured nearly £700 million in a fresh warehouse facility with Citi and Barclays Bank, backed by British Business Bank’s ENABLE Guarantee programme.
Facts
- ThinCats secures nearly £700 million in new funding facility.
- The facility, ThinCats’ second under the guarantee programme, enables lending support of up to £696 million for mid-sized UK businesses.
- Senior funding is provided jointly by Citi and Barclays, while junior funding comes from ThinCats and an undisclosed UK credit fund.
- The ENABLE Guarantee programme reduces capital requirements for lending to smaller businesses, with the UK Government sharing some of the risk in exchange for a fee.
- Ravi Anand, ThinCats’ managing director, highlights the funding’s significance in reflecting the company’s growth and strong performance despite macroeconomic challenges.
