Jersey-based peer-to-peer lender Sancus Limited has agreed a £30m facility with GLI Finance, which is based in Guernsey.
Under the agreement GLI Finance (GLIF) is able to draw down £10m immediately, with an option to access the remaining £20m as it seeks to fulfill its growth strategy.
GLI Finance is an AIM-quoted finance business that originates and invests in secured financing solutions for small and medium size companies across Europe, the UK and United States.
GLIF will use the facility primarily to take advantage of current strong growth in demand to build its portfolio of attractive loan assets, support further growth and development of the peer-to-peer and crowd-funding businesses in which it already has an equity interest, and to take additional equity holdings in other funding platforms.
Andrew Whelan, Chief Executive of Sancus Limited, said, “This agreement is further evidence of the strong global demand in the peer-to-peer market. Sancus continues to grow with the market and this facility, when fully drawn down, will we believe be the largest peer-to-peer loan to date.”
Geoffrey Miller, Chief Executive of GLI Finance said, “This facility enables us to continue our strategy to become the leading alternative provider of SME finance. It makes sense for us to secure this funding from Sancus, in which we have an equity share, because it benefits both businesses – we all eat from the same kitchen as our clients!.”
Sancus Limited works with clients to lend or borrow directly to or from fellow entrepreneurs and professionals, assisting the real economy. The company has significant permanent capital and can handle highly complex funding situations.
Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.
Once your comment has been submitted, it won’t appear immediately. There is no need to submit it more than once. Comments are published at the discretion of Bailiwick Publishing, and will include your username.
There are no comments for this article.