We recently analysed insolvency rates across more than 400,000 mid-sized SMEs as part of assessing the impact of the Covid pandemic on UK businesses. Read our full report “An analysis of UK mid-sized SMEs : Where next for insolvency rates?” to see which sectors are more resilient than others and the early warning signs we will be looking out for to gauge the speed and scale of any future rises in insolvency rates.
ThinCats’ loan book increases tenfold in three years to break through £0.5 billion
We are delighted to announce that the value of our outstanding loan book has surpassed £500 million for the first time. Capital currently deployed by ThinCats to support UK SMEs currently stands at £508 million, up from £306 million in 2020, £186 million in 2019 and £49 million in 2018.
Amany Attia, CEO, ThinCats: “Non-bank lenders have made significant progress in recent years in providing funding to smaller businesses through online platforms and to larger businesses through direct lending funds run by large private debt asset managers.
“Medium sized SMEs have been less well served and ThinCats has been proactively filling this gap. As well as meeting a clear funding requirement, ThinCats has attracted a wide range of institutional investment, which alongside our own equity capital, has enabled us to deploy almost £700 million of funding to support UK businesses since 2017.
“Over the last three years our outstanding loan book has increased more than tenfold from £49m in April 2018 to £508m in April 2021. This means that more than £0.5 billion is currently hard at work supporting mid-sized businesses across the UK.
“Whilst it is nice to have achieved the £500 million milestone, we have well-developed plans that will enable us to deploy many times this amount over the next few years in support of businesses that will drive much of the UK’s future economic growth.”