Swoop Funding is pleased to announce a partnership with BNP Paribas Asset Management (‘BNPP AM’) which will enable it to offer unsecured loans of up to GBP5 million to SMEs.
Borrowers can access funds of between GBP500,000 and GBP5 million, significantly higher than the standard unsecured facility.
Swoop’s offering fills a gap in the market for SMEs that need to secure debt funding to support growth without having to provide collateral. These loans are the latest addition to Swoop’s expanding range of financial products targeting SMEs and their advisors, including traditional sources of funding such as debt and equity, alternative sources like invoice and asset finance, business grants and more.
The loans will form part of BNPP AM’s SME Alternative Financing direct lending activity, which enables SMEs to access long-term unsecured funding in the UK, The Netherlands and Germany.
Damon Walford, Chief Commercial Officer at Swoop,...