Financial provider increases maximum loan size

ThinCats, a finance provider for mid-sized SMEs, has announced an increase in its maximum initial loan size from £15m to £20m, while maintaining the minimum initial loan size at £1m.

The move comes in response to growing demand from businesses seeking to bridge funding gaps in this market segment.

Over the past three years, Leicestershire-based ThinCats’ average initial loan size has risen to over £6m, with over £500m in funding provided for loans exceeding £10m during this period.

The expanded loan size will be accessible to ThinCats’ primary borrower categories including, owner-managed businesses, sponsor-backed businesses, and healthcare businesses.

These funds can support growth capital, acquisitions, and refinancing, including the Transitional Capital and Agile Capital solutions offered by ThinCats.

Ravi Anand, managing director of ThinCats, said: “ Solidifying our position to provide £20m in initial funding is a response to clear demand from our nationwide network of advisers and sponsors wanting the same flexible and pragmatic approach for more of their clients and portfolio companies. Furthermore, to support future requirements we will provide follow-on funding above £20m. ThinCats is leading the way in filling the gap left by traditional lenders for funding the needs of high-growth SMEs. This is one of a number of initiatives to widen our range of bespoke solutions for mid-sized businesses.”