Iwoca, one of Europe’s largest specialist SME lenders, on Tuesday announced a new funding line with initial commitments of £200 million from Barclays and Värde Partners, an alternatives investment manager specializing in credit.
According to iwoca’s own most recent SME Expert Index, more than four in five brokers (84%) say high-street banks are reducing their appetite for funding SMEs.
That is up by seven percentage points from the first quarter of 2023.
We are very much at the data-science heavy end of lending.
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