365 finance Boosts Funding Capacity with Increase to Senior Secured Facility with Pollen Street
Written by Team 365 finance
365 finance and Pollen Street Capital (“Pollen Street”) have successfully completed a 40% increase to Pollen Street’s senior secured credit facility, boosting 365 Business Finance’s funding capacity to support SMEs across the UK.
The London-based provider of revenue-based finance has already seen significant growth in demand, with a 141% year-on-year increase in the amount funded to UK SMEs. 365 finance’s proprietary technology platform and unique automatic collections process have enabled it to maintain market-leading credit performance and record levels of origination. The increased facility has also enabled the company to increase its maximum individual advance from £300k to £400k.
We’ve seen incredible levels of growth in the past year, with thousands of businesses looking to our revenue-based funding solution to help their businesses thrive during this challenging period of economic uncertainty and high interest rates. Our flexible repayments solution, which matches our customers’ cashflow, market-leading customer service and fully-automated collections technology have enabled us to become a leading provider of unsecured finance to the retail, hospitality and online sectors.
We’re delighted to build on our long-standing relationship with Pollen Street. Our increased credit facility will enable us to more than double our levels of funding to UK SMEs over the next 12 months.
Andrew Raphaely , Managing Director, 365 finance
We are delighted to build on our strong relationship with 365 which started in 2018, increasing our facility to support them as they grow. Through this facility our financing will continue to support SMEs across the UK, aligning with our commitment to generating a positive impact through the work that we do.
Michael Katramados , Partner, Pollen Street
365 finance has grown significantly and is originating at its fastest pace ever while performance and cash collections remain strong. The business has seen headcount grow by 50% in the past 12 months and recently opened a brand-new office in Finchley Road.
Unlike a bank loan, there are no fixed weekly or monthly repayments; you simply pay back a small percentage of your credit and debit card sales. This means that, during a seasonal dip in sales, your repayments will go down to match the decreased in sales – so your cash flow remains stable.
We’ve designed our funding process to be fast, simple and hassle-free. This means you don’t need to supply business plans or security for revenue based funding. Once funded, the processing of repayments happens automatically, so there is no disruption to your business.
You can apply in minutes, with approval within 24 hours (and a 90% approval rate). No security or business plans are required and flexible repayments are based on your card sales.
Rev&U™ is a form of revenue based funding that enables you to quickly and easily raise between £10,000 and £400,000. Unlike a regular bank loan, there are no fixed monthly payments – you simply pay back a small percentage of your credit and debit card sales, meaning you only pay us back when your customers pay you.
There are no APRs, admin charges or late fees. So if you’re having a quiet month, your repayments automatically reduce, which helps you manage your cash flow.