ThinCats and Hennik Edge have teamed up, making £100m available to fund and support dynamic manufacturing businesses across the UK.
ThinCats, the alternative finance specialist, and Hennik Edge, the networked advisory team for manufacturers, plan to accelerate the growth of UK manufacturing.
ThinCats said it will use its UK-wide network of Origination Managers to support those companies in the manufacturing sector that require a level of capital to take their businesses forward.
CEO of ThinCats John Mould (pictured above) 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.”
Managing Director at Hennik Edge Steven Barr added: “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.”