Press Release: CODE Investing and BNP Paribas Asset Management complete first SME loan
CODE Investing enters into strategic partnership with BNP Paribas Asset Management to originate SME loans.
As a key origination partner for BNPP AM’s SME Alternative Financing platform, CODE Investing provides UK SMEs with direct access to unsecured loans of between £500,000 and £5 million.
This is the first loan that BNPP AM has originated through its strategic partnership with CODE. The loan will help Apex Prime Care to finance its ambitious growth strategy.
The eight-year unsecured loan was completed within one month of Apex’s initial engagement with CODE Investing in December 2018. This is less than half the time typically taken for a similar loan arranged on the high street.
Malcom Patrick, Managing Director of Apex Prime Care, comments:
“The team at CODE Investing went out of their way to quickly understand our company and, in view of the tight timescales, everyone involved made sure that they were available to work on our project as and when required. They made the whole process of applying for a business loan speedy and seamless.”
Chris Roberts, Head of Origination at CODE Investing, comments:
“It was a pleasure to support Apex Prime Care with the growth funding they required in a process that moved exceptionally quickly relative to traditional acquisition funding routes. Non-high street institutional lenders such as BNP Paribas Asset Management have brought a new level of speed and flexibility to SMEs looking for finance that simply didn’t exist before. We look forward to providing more businesses with unsecured loans in the future.”
Stéphane Blanchoz, Head of SME Alternative Financing at BNP Paribas Asset Management, comments:
“There has been a structural shift in the way that SMEs access financing and through the partnership with CODE Investing, our SME Alternative Financing platform is able to offer SMEs access to development capital that is less freely available from traditional sources. We are very pleased to have originated this loan with CODE Investing and look forward to completing further deals as the year progresses.”
The CODE Investing UK Investor report examines the growing trend in lenders supporting loans as a preferred way of financing small businesses.
The latest banking report highlights that around half of SMEs are aware of the alternative finance options
Banks may be reluctant to lend to SMEs until the “Brexit fog” has cleared, but that’s not stopping business lending from alternative sources.