The lending partnership between mcl finance and Shawbrook Bank has been officially renewed and enhanced, with a 50% increase in funding capacity.
Shawbrook Bank, the UK-based provider of specialist lending and savings solutions, has reaffirmed its commitment to mcl finance by renewing and expanding the senior debt facility that has already served over 1,000 small and medium-sized businesses since December 2022.
mcl finance, launched in 2019 by CEO Dovi David, continues to scale at an impressive pace—doubling in size annually. Its success is credited to a focus on proprietary technology, robust credit assessment, and agile product development. The new facility supports the firm’s expansion into new markets and its evolving range of financial offerings.
The updated agreement, which follows a period of notable performance, includes increased leverage across the facility, demonstrating Shawbrook’s confidence in mcl finance’s business model and lending portfolio.
Liam McGall, Associate Director of Speciality Finance at Shawbrook said: “mcl provide fast and flexible finance options for the underserved SME market and continue to go from strength to strength in this market. The growth demonstrated since our relationship commenced in 2022 in all aspects is a key driver for our continued support.
“At Shawbrook, we pride ourselves on supporting existing businesses to reach their growth potential by constantly improving our funding lines, with this increase to mcl an example. We are excited to watch their continued success.”
Joseph Tucker, CFO at mcl finance said: “We are committed to supporting the SME sector by making access to finance faster and smoother. The expansion of the funding line with Shawbrook will allow us to do exactly that, as we continue to innovate and find smarter ways to provide working capital to businesses. We value our relationship with the Shawbrook team and appreciate their continued support and belief in our vision as we go to market with a shared growth ambition.”