mcl finance and Shawbrook Bank partnership renewed and increased by 50%
Shawbrook Bank, a UK-based specialist lender and savings provider, has renewed its senior debt facility with mcl finance. This renewal builds on a partnership that, since December 2022, has provided access to credit for over 1,000 UK SMEs.
mcl finance was founded by CEO Dovi David in 2019 and has successfully scaled, with the business consistently doubling in size year on year, due to its investment in proprietary tech, credit risk profiling and product development. The growth trajectory involves increased deal flow, international expansion, and continuous product innovation — all supported by the facility’s expansion.
As a testament to the strong underlying performance of the book and the ongoing success of the relationship, the renewal sees increases in the advance rate, borrowing base and overall facility size.
Liam McGall, associate director of Speciality Finance at Shawbrook said: “mcl provide fast and flexible finance options for the underserved SME market and continue to go from strength to strength in this market. The growth demonstrated since our relationship commenced in 2022 in all aspects is a key driver for our continued support.
“At Shawbrook, we pride ourselves on supporting existing businesses to reach their growth potential by constantly improving our funding lines, with this increase to mcl an example. We are excited to watch their continued success.”
Joseph Tucker, CFO at mcl finance said: “We are committed to supporting the SME sector by making access to finance faster and smoother. The expansion of the funding line with Shawbrook will allow us to do exactly that, as we continue to innovate and find smarter ways to provide working capital to businesses. We value our relationship with the Shawbrook team and appreciate their continued support and belief in our vision as we go to market with a shared growth ambition.”