mcl finance has renewed and notably expanded its funding agreement with Shawbrook Bank, increasing its senior debt facility by 50%.
This renewed facility continues a successful collaboration that began in December 2022. Since then, the partnership has facilitated lending to over 1,000 small and medium-sized enterprises (SMEs) across the UK.
Led by CEO Dovi David, mcl finance—established in 2019—has seen exponential growth, doubling its size each year through consistent investment in proprietary technology, credit modelling, and new financial products. The larger facility will enable the business to accelerate its plans for growth, geographic reach, and product advancement.
The revised terms reflect a strong performance track record and mutual confidence, with enhanced metrics across advance rate, borrowing base, and overall funding capacity.
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.”
