The ‘record-breaking’ loan was facilitated by ThinCats, with prospective investors being able to participate in the auction while ESF Capital will underwrite the loan to ensure the bids meet the £3.5m requisite.
John Mould, CEO of ThinCats said LAMP was a well-established business with significant market presence.
“This shows that P2P lending in general – and ThinCats in particular – is beginning to vie with traditional lenders as a mainstream provider of capital to increasingly large companies.
“We expect to see an upward trend in both the size and variety of deals as more businesses discover the benefits of financing through P2P lending.”
Capital Engine has structured the loan for ThinCats and has invested half of its arrangement fees into the loan on the same terms as other ThinCats lenders.
Christopher Rothschild of Capital Engine added: “This transaction shows that ThinCats is maturing into a marketplace where established businesses can raise structured term debt on attractive terms.
“We are keen to identify more good borrowers and make further inroads in the underserved SME loan market by structuring loans which enable borrowers to achieve their aims while also offering good yield investments to lenders.”
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