ThinCats.com and Sterling prowl Yorkshire
ThinCats.com, the online marketplace for secured business loans, is set to enter Yorkshire with help from sponsors Sterling Capital Reserve Limited, a specialist commercial finance brokerage.
ThinCats.com is the first ever online marketplace to enable experienced investors to make secured loans of between £50,000 and £1m direct to UK companies. It uses an online auction, similar to eBay, cutting out the ‘fat cat’ bankers and giving both sides a better deal.
David Griffiths, managing director of Sterling Capital Reserve, which is the “sponsor” for the Yorkshire region said: “We’ve been looking at the Yorkshire market for quite some time, and believe there is a funding gap that we can fill. We’re really excited about what we can offer growing businesses in Yorkshire.
“ThinCats.com has already made £19m of finance available to over 100 companies, and we want to extend this offering to Yorkshire businesses, which have sometimes struggled to access the cash they need to expand.
“We don’t intend on stopping at £19m – and there is substantial funding available that ThinCats.com is ready to tap into to help drive the economy in Yorkshire. We’re excited about helping entrepreneurs grow and take their companies to the next level.”
As a “sponsor” Sterling Capital Reserve helps lenders make an informed decision, by producing an information pack which includes details of the company, the management team, what the loan will be used for, the market in which the company operates, its trading performance, profit forecast, ability to repay and details of the security offered.
There are no membership charges or fees for investors to lend to businesses via ThinCats.com and they receive fixed, predictable repayments of interest and capital on a monthly basis. Businesses benefit from a transparent fee structure and the comfort of knowing that their repayments are fixed.
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