Alternative finance firm Growth Street has been granted full authorisation by the FCA. The announcement marks a significant milestone for Growth Street, which had been operating as an Appointed Representative of Resolution Compliance Limited since 2016.
Growth Street has simultaneously rolled out an update to its flagship business lending product, GrowthLine. The firm is now accepting applications from businesses looking to borrow up to £2m, a substantial increase from the previous maximum limit of £1m. Since starting up in 2015, Growth Street has matched over £150m of investors’ funds with borrowing SMEs.
Greg Carter, Growth Street CEO, said:
“We’re delighted to be fully authorised and regulated by the FCA. It’s a great vote of confidence in our security and transparency as a business.
“We have long advocated for more transparency and better regulation in this industry, so the more companies being directly approved by the FCA in this largely unregulated space, the better.
“I’m also happy to announce that we are now welcoming businesses looking to borrow up to £2m through GrowthLine. That we’re able to double our previous maximum limit is a great endorsement of the calibre of businesses we have been speaking to in recent weeks and months.”