UK lender-broker Portman Finance Group has secured a £10m funding line from Shawbrook Bank’s speciality finance team to scale up its business.
Portman has been a provider of business finance for the UK SME market since 2007 and has provided over £1.5bn in funding to over 20,000 businesses.
Read more: LendingClub and Blue Owl renew forward flow agreement for up to $3.4bn
The new funding from Shawbrook will help it to broaden its SME loan offering and assist with larger and longer-dated loans.
“We are delighted to have Shawbrook as a partner as we look to grow and expand our offerings. This funding line is crucial for us to achieve our ambitious plans and to assist even more SMEs across the UK,” said Alex Read, founder of Portman.
Read more: Monroe Capital leads $100m investment in NFS Capital
“We believe that this funding line is only the start of a long and prosperous relationship, and we are pleased that Shawbrook have also joined the Portman Broker panel which reflects our commitment to this client,” added Chris Clarke, director, structured lending at Shawbrook.
Read more: L&G secures new £400m revolving credit facility for industrial property fund
