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ThinCats agrees underwriting deal with ESO Capital Group

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Peer-to-peer secured business spending platform ThinCats has partnered with ESO Capital Group to underwrite a regular series of large deals on the ThinCats platform. 

The deal will initially involve GBP20m-GBP50m being deployed on the ThinCats platform but both partners expect this figure to rise significantly over the next few years.
 
Kevin Caley, CEO of ThinCats, says “We are delighted to be partnering with ESO. As a specialist in large, secured loans we are confident that ESO’s underwriting commitment will help us further strengthen our position as one of the leading players in the sector. This partnership will also allow us to facilitate further lending to UK SMEs as well as driving increased liquidity and opportunities to our thousands of lenders. We believe that ESO’s choice of ThinCats gives a strong validation to our model and commitment to all stakeholders who benefit from our platform.”
 
The ESO underwriting partnership will allow ThinCats to expand further into larger deals. Although ThinCats has already arranged a number of loans greater than GBP2m, the relationship with ESO allows ThinCats to auction loans of up to GBP5m or more with full confidence that they will be funded.
 
The move marks a step change in the size and quality of deals available through peer to peer lending platforms and provides enhanced opportunities for UK SMEs seeking business funding, a crucial element of the UK economy.

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