Lovey secures up to £250 million credit line to expand UK SME loans
Fintech lender Lovey has obtained a senior secured credit facility worth up to £250 million, aimed at boosting its lending to small and medium-size enterprises in the United Kingdom.
Lovey, a UK fintech specializing in SME financing and brokerage, has secured a senior secured credit facility of up to £250 million from Pollen Street Capital. The arrangement includes a £50 million committed tranche and a £200 million accordion facility, representing the biggest funding round the company has completed. Based in Birmingham, Lovey has already provided more than £600 million to over 11,000 small businesses since its launch in 2016.
The new capital will allow the firm to expand its direct-lending operations, offer larger loan sizes, and serve a broader range of SMEs across the country. Founder and CEO Jack Smith described the facility as a pivotal step toward scaling the business, while COO Kai Hunter highlighted the enhanced speed and certainty it brings to borrowers. The agreement follows previous financing, such as a £35 million revolving credit line from Paragon Bank and a £10 million junior note programme from LGB Capital Markets.
Why it matters
The funding expands credit availability for UK small businesses, supporting economic growth and job creation.
In this story
