ThinCats raises initial maximum loan to £20m

Alternative finance provider ThinCats has raised its maximum initial loan size from £15m to £20m.

The change follows increasing demand from what ThinCats says is a funding gap in this part of the market.

ThinCats’ average initial loan size has increased to more than £6m over the last 3 years and during this time ThinCats has provided more than £500m in funding for loans above £10m in size.

The minimum initial loan size remains at £1m, but the increased loan size will be available to three main borrower types: owner managed businesses, private-equity sponsor-backed business and healthcare businesses.

Funding can be used to support growth capital, acquisitions and refinancing.

ThinCats also provides follow-on funding beyond £20m – the largest exposures to date have been £35m.

ThinCats managing director Ravi Anand 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.”