ThinCats Partner With Lenvi to Support Business Growth in the SME Sector

ThinCats, one of the UK’s leading SME finance providers has partnered with Lenvi, experts in loan software and servicing, to deliver Standby Servicing to their latest funding facility.

The new warehouse facility with Citi and Barclays Bank PLC (“Barclays”) is guaranteed by the British Business Bank’s (BBB) ENABLE guarantee programme  . This new facility supports lending of up to £696m for mid-sized smaller businesses in the UK, making it one of the largest, dedicated funding lines with a non-bank lender.

The BBB ENABLE Programme, which is designed to encourage additional lending to smaller businesses. Participating institutions are incentivised by a government-backed portfolio guarantee to cover a portion of a designated lending portfolio’s net credit losses in excess of an agreed ‘first loss’ threshold, which they receive in exchange for a fee. 

Owain Chambers, Account Director – Capital Markets said:  

“We are delighted to be working with ThinCats and to be supporting their ambitions to scale their bespoke lending solutions thar are so valued by UK businesses. Lenvi’s scale and extensive expertise in the SME sector, coupled with our experience managing complex invocations gives investors reassurance and peace of mind. It’s also fantastic to be supporting this vital British Business Bank Programme”