Receivables Finance News

4Syte secures up to £100m funding facility from NatWest

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Specialist finance provider 4Syte has agreed a new funding facility of up to £100m from NatWest Bank, backed by an ENABLE Guarantee from the British Business Bank.

The transaction will unlock additional lending capacity for 4Syte, allowing the firm to expand its invoice finance and asset-based lending to UK smaller businesses. The facility represents a doubling of 4Syte’s existing funding, with the British Business Bank guaranteeing a portion of the lending provided by NatWest.

The ENABLE Guarantees programme is designed to encourage banks and alternative lenders to extend finance to small and medium-sized enterprises (SMEs) by reducing the capital required for such lending. Under the scheme, the UK Government assumes part of the risk in return for a fee, helping broaden funding options available to SMEs.

Michael Strevens, Managing Director, Structured Financial Institution Solutions at the British Business Bank, said: “Invoice finance and asset-based lending are important finance types for smaller UK businesses, providing them with a flexible and affordable way to finance their operations.

“One of the British Business Bank’s key aims is to increase the choice of funding options for those businesses, and this transaction does exactly that.

“Working with a new delivery partner in 4Syte and alongside an established funder like NatWest demonstrates our commitment to increasing the diversity of providers in the wider lender market, supporting them at whatever stage of their journey they are on.”

Founded to support SMEs with tailored cashflow and growth solutions, 4Syte provides working capital, business expansion and debt consolidation funding across a range of finance services.

Nick Sellars, Group Managing Director of 4Syte, said: “This facility demonstrates the commitment of the British Business Bank, NatWest and 4Syte to the SME sector and its vital role in driving growth across the UK.

“We are delighted to have the opportunity to work alongside such esteemed institutions, and we look forward to continuing our service-led offering to support and inspire UK businesses.”

Martin Noakes, Head of UK Structured Finance, L&SE & Head of Corporate ABL at NatWest, added: “We are delighted to continue supporting 4Syte’s growth aspirations through the extended provision of our back-to-back ABL facility, and with the support of The British Business Bank and the ENABLE Guarantees programme, we are excited to help unlock an important new source of liquidity for UK SMEs.”