P2P funder ThinCats is making £100m (€113.06m) available to fund UK manufacturing businesses in partnership with advisory team Hennik Edge.
Hennik Edge will act as origination managers to seed the capital, said the funder.
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John Mould, chief executive officer at ThinCats said: “This is great news for fast-growing manufacturing firms. Since 2011 we have lent £20m to businesses operating in the manufacturing space, with 73 loans servicing 50 different companies.
“With this much-needed funding, and with the expertise of Hennik Edge, we can look to raise the pace of our lending even further.
“ThinCats specialises in providing funding that, in many cases, the high street banks cannot. Whether it’s for working capital, acquisitions, asset purchase or refinancing, we will help to ensure that manufacturing continues to be the lifeblood of the UK economy by supporting growth across the sector.”
Steven Barr, managing director at Hennik Edge said: “We’ve heard from frustrated manufacturers who need a different kind of finance from what’s on offer in the high street. This new release of £100m of funding, backed by ThinCats, offers a great alternative for ambitious, growing SMEs.”
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