Got Capital Signs a Multi Million Senior Credit Facility With Shawbrook Bank

LONDON, April 5, 2019 (Newswire.com) - ​​Got Capital is pleased to announce the closing of a senior credit facility from Shawbrook, which increases Got Capital's funding capabilities and enhances our ability to take advantage of significant market opportunities.

"The new facility, from a leading institutional financing partner, is a validation of the strength of our team, our track record of success and the robust platform that Got Capital has built" stated Got Capital's CEO, Alex Afek.

Since inception, Got Capital has provided thousands of SMEs with over £100 million in working capital solutions. Proceeds from the transaction will be used by the Company to execute its strategic growth plan and accelerate their ability to provide more small businesses with access to attractive non-bank flexible financing.

Small Businesses in UK

Mr. Afek continued, "Small businesses are thriving; representing 99 percent of all UK businesses, accounts for 60 percent of employment and 52 percent of turnover in the UK. Yet, high-street bank credit to this important sector of the economy has contracted sharply. It is estimated that the amount of small business loan originations plummeted by more than half during the financial crisis and has seen only a very limited recovery post-crisis, leaving small business loan originations down 40%. The small business funding space has drastically changed in the past two years. We see more and more sophisticated players in the space, and to me, it's a sign that the industry is on the right track to be the major funding source of businesses in the U.K. Being able to close this credit facility is strong evidence that Got Capital has a lot to offer. As pioneers in this space, I think it's important we stay ahead of the curve, specifically in terms of analysis of our customer's needs and our internal decision-making process. In that sense, Shawbrook Bank and Got Capital share the same vision."  

When small businesses find it hard to overcome finance issues from traditional sources of capital, Got Capital remains committed to helping them accomplish their goals. Got Capital offers small business owners in a variety of industries across the U.K. the option to fund their businesses for any purpose with up to £250,000. The Company's technology-enabled platform allows for a streamlined process, with most qualified businesses funded within 24 hours.

Mr. Afek concluded; "The closing of this transaction demonstrates that institutional investors have confidence in our business model and expect to see continued, rapid growth."

Karan Burman, Structured Finance Director at Shawbrook Bank says: "Specialist funders are playing an increasingly important role in plugging the funding gap within the SME market, delivering the dedicated products and support that a business owner or management team requires. Dealing with complexity to deliver the right SME finance solution is what we do at Shawbrook and it's clear to us that the Got Capital team understand the dynamics of SME finance and the complexity of the market, which is how they've already successfully supported thousands of small business customers."

About Got Capital Ltd:

Founded in 2014 and headquartered in the City of London, Got Capital Ltd is a technology-enabled specialty lender, leveraging proprietary origination, disciplined underwriting and performance analytics to improve the speed, cost and choice of capital available to small and mid-sized businesses throughout the UK.

Website: www.gotcapital.co.uk

Source: Got Capital ltd