Albatross Lending Group has launched a new small and medium-sized enterprises (SMEs) division backed by an initial £100m funding commitment.
The initiative aims to support owner-occupier SMEs that remain underserved by traditional lenders, the firm said.
Read more: UK SMEs’ use of external finance remains stable despite macro uncertainty
Its lending model will offer loans ranging from £100,000 to £2m for expansion, capital investment, acquisitions, business purchases, restructuring or refinancing, as well as other strategic needs. Terms will run for up to 36 months.
Read more: BBB’s Michael Strevens: Non-bank lenders play “crucial” role in SME finance
Eligible UK businesses span most sectors, including manufacturing, hospitality, healthcare, retail and professional services.
London-based Albatross Lending is a specialist lender offering a range of short-term products to intermediaries and borrowers.
Read more: BBB hits £5bn lending through structured guarantee programmes
