ThinCats unveils innovative Agile Capital facility and appoints Chris Pacey as its product head
ThinCats, the leading alternative lender to mid-sized SMEs, has announced the launch of Agile Capital, a flexible funding solution for growth and working capital.
By combining a term loan with a revolving credit facility (RCF), Agile Capital provides a holistic funding solution for mid-sized businesses. Agile Capital is suited to businesses where a traditional ABL facility does not meet its total funding requirement and a term loan ‘overfunds’ the business from time to time.
Chris Pacey has been appointed as head of Agile Capital lending. Chris has more than 20 years’ experience with deep technical knowledge of receivables and ABL products. Prior to joining ThinCats, Chris was head of relationship management at ABN AMRO Commercial Finance.
Chris will work alongside the ThinCats business development team across the country, in particular, Steven Munt in London/South East, Matt Vincent in the Midlands and Mike Dinnell in the North West.
Agile Capital has been created to provide greater flexibility and further empower mid-sized businesses in their growth aspirations with financing from £3m to £15m, without the operational intrusion of cash management of working capital assets.
The new product addresses a critical gap in many SME financing options, by combining the principles of leverage and asset based lending to create a flexible one-stop-shop solution for borrowers’ long term and shorter term working capital funding requirements.
Ravi Anand, managing director, ThinCats: “Agile Capital enhances ThinCats proposition to mid-sized businesses by addressing the challenge of funding growth within a working capital intense business. Our simple but innovative solution of a term loan plus an RCF fills a market gap and is a valuable addition to our existing suite of facilities. We are delighted to have Chris on board to spearhead this initiative.”
Chris Pacey, head of Agile Capital, ThinCats said: “I am delighted to be joining ThinCats at such an exciting time in its development and lead the new Agile Capital product. Having worked in ABL for many years it is great to see a solution which takes a more holistic view of a borrower’s funding needs. By combining ThinCats’ expertise in cashflow lending with some of the principles of ABL, we have created a one-stop solution to fund growth and working capital requirements without the need to interfere with management of a borrower’s operational cash flows.”
