365 Business Finance boosts funding capacity with new secured credit facility

365 Business Finance and Pollen Street Capital have completed a 40% increase to Pollen Street’s senior secured credit facility, boosting 365 Business Finance’s funding capacity to support SMEs across the UK.

The increased facility has enabled the company to increase its maximum individual advance from £300,000 to £400,000.

Andrew Raphaely, managing director of 365 Business Finance, said: “We’ve seen incredible levels of growth in the past year, with thousands of businesses looking to our revenue-based funding solution to help their businesses thrive during this challenging period of economic uncertainty and high interest rates.

“Our flexible repayments solution, which matches our customers’ cashflow, market-leading customer service and fully-automated collections technology have enabled us to become a leading provider of unsecured finance to the retail, hospitality and online sectors.

“We’re delighted to build on our long-standing relationship with Pollen Street. Our increased credit facility will enable us to more than double our levels of funding to UK SMEs over the next 12 months.”

Michael Katramados, partner at Pollen Street, said: “We are delighted to build on our strong relationship with 365 which started in 2018, increasing our facility to support them as they grow. Through this facility our financing will continue to support SMEs across the UK, aligning with our commitment to generating a positive impact through the work that we do.”