24-Jan-2019
Through its strategic
partnership with SME debt finance platform, CODE Investing, BNP Paribas Asset
Management ('BNPP AM') has completed an unsecured loan to Hampshire-based
domiciliary care provider, Apex
Prime Care.
As a key origination partner
for BNPP AM’s SME alternative financing platform, CODE Investing provides UK
SMEs with direct access to unsecured loans of between £500,000 and £5m.
This is the first loan that
BNPP AM has originated through its strategic partnership with CODE, and will
help Apex Prime Care to finance its ambitious growth strategy.
The eight year unsecured loan
was completed within one month of Apex's initial engagement with CODE Investing
in December 2018. This is less than half the time typically taken for a
similar loan arranged on the high street.
Malcom Patrick, managing director of Apex Prime Care, comments:
“The team at CODE Investing went out of their way to quickly understand our
company and, in view of the tight timescales, everyone involved made sure that
they were available to work on our project as and when required. They
made the whole process of applying for a business loan speedy and
seamless."
Chris Roberts, head of origination at CODE Investing, comments:
“It was a pleasure to support Apex Prime Care with the growth funding they
required in a process that moved exceptionally quickly relative to traditional
acquisition funding routes. Non-high street institutional lenders such as
BNP Paribas Asset Management have brought a new level of speed and flexibility
to SMEs looking for finance that simply didn’t exist before. We look
forward to providing more businesses with unsecured loans in the future."
Stéphane Blanchoz, head of SME alternative financing at BNP Paribas Asset Management, comments:
“There has been a structural shift in the way that SMEs access financing and through the partnership with CODE Investing, our SME alternative financing platform is able to offer SMEs access to development capital that is less freely available from traditional sources. We are very pleased to have originated this loan with CODE Investing and look forward to completing further deals as the year progresses.”