The funding package comprises a £35m revolving credit facility from Paragon, and a £10m junior medium-term note programme from LGB Capital Markets.

The funding is aimed at enabling the company to expand its loan book and support more UK SMEs, as well as lend directly from its own book, accelerate decision-making and widen access to essential capital for SMEs.

Love Finance has grown revenue over 900% in the last four years to £9.2m in 2024 and doubled its team, while providing £300m in funding to more than 7,000 SMEs across the UK.

Jack Smith, founder and CEO at Love Finance (pictured above), said: “Securing our first debt financing is a major milestone for Love Finance.

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“With the support of Paragon Bank and LGB Capital Markets, we can scale our own book lending, reach more SMEs across the UK, and continue driving innovation in business finance.

“This funding brings us another step closer to our goal of being the UK’s most trusted and accessible SME lender.”

Jamie Pickering, co-head of structured lending at Paragon, added: “Paragon’s structured lending division is designed to support high-growth businesses with bespoke funding solutions that enable them to scale at pace.

“Our latest partnership with Love Finance reflects this mission.

“By backing innovative lenders like Love Finance, we’re proud to be helping strengthen the resilience and creativity of the UK’s vibrant SME sector, which plays a vital role in driving economic prosperity and regional development.”