A Big Win for Small Businesses
Propel Finance, a leading UK-based asset finance provider, has secured £1.5 billion in new funding to support small businesses. This significant move will allow the company to expand lending to SMEs across the UK — a sector that often struggles to access timely finance.
This strategic development, backed by major financial institutions, marks a major milestone in the evolution of UK SME lending. For entrepreneurs and growing firms, access to finance can make or break their ambitions.
Backed by Big Names
In this funding round, Barclays, Bank of America, Citi, and the British Business Bank offered their backing. This powerful lineup of institutional lenders shows deep confidence in both Propel’s performance and the broader UK SME market.
Legal guidance came from Ashurst and Blake Morgan, while Interpath advised on the mezzanine facility. Such partnerships show how multiple players are working together to strengthen small business finance.
Expanding Lending Capabilities
This fresh £1.5 billion injection is not just a headline figure — it translates into real impact on the ground. With this funding, Propel aims to ramp up lending across key sectors like manufacturing, transport, construction, technology, and telecoms.
For thousands of small and medium-sized businesses across the UK, this means faster access to capital to fuel growth and innovation.
CEO Highlights Growth Vision
Mark Catton, CEO of Propel Finance, shared his enthusiasm:
“We are thrilled to have secured this transformative £1.5 billion in funding availability, helping us accelerate our growth and support for our partners and SME customers.”
He added that working with such a strong panel of institutional lenders has been deeply rewarding. Clearly, this is a vote of confidence in Propel’s mission and model.
Strategic Support from Global Institutions
Andrei Cotonet, Director of Structured Finance at Bank of America, noted:
“We see significant opportunity in the UK asset finance sector and are proud to support Propel’s continued expansion and growth.”
His comments underscore a growing trend: global financial institutions are increasingly turning their attention to the UK SME lending space, recognizing its untapped potential.
Fueling the UK Economy
There’s no doubt this move will have a positive ripple effect across the country. Many UK SMEs struggle to secure funding from traditional banks. Propel’s expanded reach could help bridge that gap — and fast.
With increased capital, the company can now offer more flexible terms, faster approvals, and tailored asset finance solutions, empowering business owners to act decisively.
Final Thoughts
This £1.5 billion funding round marks a turning point for Propel Finance and the businesses it serves. It reflects how UK SME lending is evolving — becoming more agile, inclusive, and future-ready.
As institutional lenders double down on support, and fintech players scale up with purpose, the future of UK SME lending looks promising indeed.