Deal sees finance provider extend lending capability by £300m
London-headquartered alternative finance provider, SME Capital has entered a partnership agreement with Chenavari Investment Managers.
Completed last week, this new deal provides committed capital of £300 million and further extends SME Capital’s range of lending capability.
With the average loan application currently sitting at £2.9 million, this new deal will enable SME Capital to expand into larger deals and consider loans of up to £6 million.
James Kaberry, Chief Executive of SME Capital comments: “We have several deals in the pipeline and our levels of interest are higher than ever.
“This is an exciting time for SMEs looking for finance and this new partnership with Chenavari underlines our stated ambition to deliver unparalleled bespoke funding solutions to these UK businesses.”
Benoit Pellegrini, Partner & Senior Portfolio Manager at Chenavari said: “We, at Chenavari, are excited to expand our Direct Origination investments through this new partnership with SME Capital.
“We believe that SME Capital’s unique offering, combining streamlined processes and thorough credit analysis, will provide bespoke financing solutions to the real economy and especially the underserved mid-market SME segment.”