The lender said the transaction will enable it to launch a streamlined tiered loan structure designed to scale origination across its core SME lending offering.

Momenta said it is now able to offer loans with interest rates starting from 7% per annum, alongside extended tenors.

This transaction was led by the firm’s newly appointed CEO Tim Boag, along with CCO Chris Forrest and the wider executive leadership team.

Tim (pictured above) commented: "This is a pivotal moment for Momenta and, more importantly, for the brokers and SMEs we serve.

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“We are delivering institutional power with the agility of an alternative lender, ensuring that UK businesses can access the right capital, at the right price, exactly when they need it."

The new structure utilises a single-application workflow, removing the need for brokers to pre-judge a client’s eligibility.

Momenta will assess the application and offer the most competitive tier available based on the trading history and asset profile.

The new tiered pricing and extended terms are effective immediately for all new applications, Momenta said.

 “This new facility represents an important step forward in Momenta’s growth journey and directly supports our strategic ambition to become an alternative lender across multiple SME-focused products with an exceptional roster of institutional funding partners,” said Jonathan Stern, CFO at Momenta.