The funding will be used by Merchant Money to grow its lending books across its secured and unsecured product offerings and adds to its existing suite of senior funding lines.
Merchant Money has been providing secured and unsecured business loans to SMEs on a UK-wide basis since 2013. The business, which secured British Business Bank accreditation for CBILS & RLS lending respectively, added bridging and secured loans to its offering in 2020, an area in which it has achieved good success to date.
Challenging market conditions have seen a continued retrenchment of traditional high street lenders and alternative funders in the SME lending space, a market in which Merchant Money is now well positioned to grow, as per the press release.
Company officials stated that they are happy to have secured such significant funding lines from two important partners in difficult market conditions. The funding package consists of a combination of senior and junior capital and allows for a more compelling product offering. They have already funded their first deals using this capacity and the market reaction to their improved products has been positive.
Commenting in this development, representatives from Quilam said they are happy to be supporting Merchant Money into what they expect to be a very exciting next stage of its journey. Despite the current headwinds, there remains significant market opportunity in the SME space which the business is now in a prime position to fully capitalise on.
Merchant Money’s goal remains to continue to support the UK SME sector through what is likely to be a tough trading environment during 2023. Alongside their supportive founding shareholders, this new funding will fuel the next phase in the company’s growth aspirations.
Merchant Money is a UK-wide business finance lender, headquartered in London. Merchant Money launched in 2013 with a specific lending proposition. Today they offer much more. Their focus is constant – to ensure that their clients enjoy the clarity of transparent lending and the financial confidence to realise their business potential. We invest time and attention into every client to design and deliver specific and innovative business finance solutions across a range of lending products. They have helped countless businesses of all sizes and in all sectors, with plans to support many more.
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