ThinCats has bolstered its loan origination team with the hire of Kash Moghul.
Kash will be covering the Northern Home Counties and Essex, bringing particular expertise in ‘event driven’ finance – particularly MBOs, MBIs and acquisitions.
He is, he says, “sector agnostic” and has already got deals on his radar.
He joins from Allied Irish Bank, where he was head of new business for London and the South East, and where he developed considerable relevant experience.
“The AIB was never going to compete with the big banks, so we had to be creative, focusing on buy-and-build and cash flow loans.”
While at the bank, Kash secured a range of successful loan mandates, including: £6m revolving line for manufacturing business, £4m working capital facility for a retail client and £3.5m financing of an IT specialist business MBO.
In terms of providing capital to SMEs, Kash believes that the banks are hampered by restrictive processes and too great a focus on ‘bricks and mortar’ for loan security, Kash said:
“Banks’ mindsets are still stuck in the old days – it’s slow and unwieldy. I want to be able to tell a business owner within a week of meeting them whether we can do a deal or not – I don’t want to lead them down the garden path.”
He believes that ThinCats has an understanding of SMEs and of their financing needs that make such quick decision making possible:
“The ability to move from initial contact to fully backed credit terms is one of the fastest I have come across, and this can only be achieved through the trust and understanding we build with clients and advisers alike.”