ThinCats Review

Item: ThinCats Business Finance
Author: Lendus

Figures last checked 23 August 2026. Independent review by Lendus — we are an introducer, not a lender, and are not paid by ThinCats.

What does ThinCats offer UK businesses?

ThinCats does not offer a direct lending product. ThinCats does not publish headline interest rates. It prices each loan individually based on the borrower's cashflow, security and risk profile. Figures checked 23 August 2026 and indicative only.

ThinCats is a UK alternative lender to mid-sized SMEs, tracing back to Business Loan Network Limited, founded in 2010. It has deployed over £2 billion to UK businesses to date, providing long-term debt funding of £1 million to £30 million for growth, M&A, management buyouts, employee ownership trusts and private equity backed transactions. ThinCats is not aimed at small businesses or start-ups; it targets established mid-sized SMEs, typically with £0.5 million to £40 million in gross assets and 10 to 250 employees. In 2025 ThinCats was acquired by Shawbrook Group and continues to operate under the ThinCats brand.

Written by the Lendus editorial team. Last updated: April 2026.

Amount

£1M – £30M

Rates

N/A – N/A

ThinCats does not publish headline interest rates. It prices each loan individually based on the borrower's cashflow, security and risk profile; rates are quoted directly to the applicant, not advertised.

Speed

No fixed published turnaround time. ThinCats describes its process as relationship-led, aiming to provide a decision within the timeframe the borrower needs, via a dedicated regional business development manager and human underwriting rather than an automated instant decision.

What is ThinCats?

ThinCats (Thincats Limited) is a UK-based business finance provider founded in 2010 and headquartered in Birmingham. ThinCats is a UK alternative lender to mid-sized SMEs, tracing back to Business Loan Network Limited, founded in 2010. It has deployed over £2 billion to UK businesses to date, providing long-term debt funding of £1 million to £30 million for growth, M&A, management buyouts, employee ownership trusts and private equity backed transactions. ThinCats is not aimed at small businesses or start-ups; it targets established mid-sized SMEs, typically with £0.5 million to £40 million in gross assets and 10 to 250 employees. In 2025 ThinCats was acquired by Shawbrook Group and continues to operate under the ThinCats brand. They have lent £2 billion+ to date.

Founded 2010 Birmingham ThinCats' parent company, Thincats Group Limited, states in its audited FY2024 Annual Report and Financial Statements (year ended 30 June 2024) that 'the Group is not a bank nor subject to PRA or FCA supervision'. ThinCats lends to limited companies, which is typically unregulated business lending in the UK. ThinCats was acquired by Shawbrook Group (a UK bank authorised and regulated by the Prudential Regulation Authority and the Financial Conduct Authority) in 2025; this acquisition does not, on the primary source above, itself place ThinCats' own lending activity under FCA/PRA supervision.

Where these details come from

Companies House number: find-and-update.company-information.service.gov.uk , checked 2026-08-23
Regulatory status: s3-eu-west-2.amazonaws.com , checked 2026-08-23
founded: find-and-update.company-information.service.gov.uk , checked 2026-08-23
amountRange: www.thincats.com , checked 2026-08-23
totalLent: www.thincats.com , checked 2026-08-23
headquarters: s3-eu-west-2.amazonaws.com , checked 2026-08-23

Rates and costs

Rate range: N/A – N/A (ThinCats does not publish headline interest rates. It prices each loan individually based on the borrower's cashflow, security and risk profile; rates are quoted directly to the applicant, not advertised.)
Representative APR: No published representative APR; ThinCats prices loans individually and quotes rates on application.
Amount range: £1,000,000 – £30,000,000
Approval speed: No fixed published turnaround time. ThinCats describes its process as relationship-led, aiming to provide a decision within the timeframe the borrower needs, via a dedicated regional business development manager and human underwriting rather than an automated instant decision.

Eligibility requirements

Minimum trading history: Not stated as a fixed minimum number of years; ThinCats lends to established mid-sized SMEs rather than start-ups or very early-stage businesses.
Minimum turnover: Not published as a turnover figure. ThinCats states its target borrowers typically have between £0.5 million and £40 million in gross assets and employ 10 to 250 people.
Credit requirements: ThinCats uses a proprietary data-led credit model called PRISM alongside manual underwriting and sector-specialist relationship managers. Lending decisions combine credit and financial data with an assessment of the business, its management and its assets; some facilities (such as asset-backed loans) are secured, with ThinCats citing a maximum loan-to-value of 85% on asset-backed lending. ThinCats is aimed at established, profitable or investable mid-sized SMEs rather than businesses with a limited trading record.

How to apply

Review ThinCats's current application requirements on its website.

You can also explore business funding through Lendus. Fundably handles these applications and matches eligible businesses with its panel.

Fundably accepts UK limited companies with at least 3 months of trading and monthly revenue.

Availability of this particular lender through Fundably is not guaranteed.

Pros and cons

Pros

Large loan sizes from £1 million to £30 million, suited to significant growth, acquisition or buyout funding that many alternative lenders cannot provide
Flexible terms of up to 7 years, with structures including cashflow loans and asset-backed facilities
Relationship-led underwriting via regional business development managers and a proprietary data model (PRISM), rather than a purely automated decision
Established track record since 2010 (as Business Loan Network Limited), having deployed over £2 billion to UK SMEs to date
Now backed by Shawbrook Group following its 2025 acquisition, giving access to a larger balance sheet and wider resources while continuing to trade under the ThinCats brand

Cons

Minimum loan size of around £1 million, making it unsuitable for small businesses or those needing modest working capital
No published interest rates; borrowers must apply or speak to the team to find out pricing, which is less transparent than lenders that advertise a rate range
No fixed, published approval turnaround time; the relationship-led process can take longer than automated online lenders
Only suitable for established SMEs with meaningful scale (typically £0.5m-£40m gross assets, 10-250 employees), not start-ups or micro-businesses
Recently changed ownership (acquired by Shawbrook Group in 2025), which may bring changes to process or proposition as integration continues

Is ThinCats right for you?

Best for

Established mid-sized UK SMEs, typically with £0.5 million to £40 million in gross assets and 10 to 250 employees, seeking £1 million to £30 million of debt funding for M&A, management buyouts, employee ownership trust transitions, buy-and-build strategies or private equity backed growth, and who value a relationship-led, human-underwritten process over an instant online decision.

Not ideal for

Small businesses, start-ups or anyone needing under £1 million, and borrowers who want a published headline interest rate or an instant automated decision before applying.

Frequently asked questions about ThinCats

Is ThinCats legit?

Yes. ThinCats traces back to Business Loan Network Limited, incorporated in 2010, and its operating company Thincats Limited (company number 09707863) is registered at Companies House. ThinCats has deployed over £2 billion to UK SMEs to date and was acquired by Shawbrook Group in 2025, continuing to trade under the ThinCats brand.

How much can I borrow from ThinCats?

ThinCats provides long-term debt funding from £1 million to £30 million to mid-sized UK SMEs, with terms of up to 7 years. It is not a small business lender; typical borrowers have between £0.5 million and £40 million in gross assets and 10 to 250 employees.

What interest rates does ThinCats charge?

ThinCats does not publish a standard rate range. It prices each loan individually based on the borrower's cashflow, security and risk profile, so you need to apply or speak to the team to get a quote. There is no published representative APR.

Is ThinCats suitable for small businesses or start-ups?

No. ThinCats' minimum loan size is around £1 million and it targets established, mid-sized SMEs rather than start-ups or micro-businesses. Smaller businesses are likely better served by lenders offering loans from a few thousand pounds.

Is ThinCats FCA regulated?

ThinCats' parent company states in its own audited annual report that the Group is not a bank and is not subject to PRA or FCA supervision. This reflects that ThinCats lends to limited companies, which is typically unregulated business lending in the UK, rather than FCA-regulated consumer credit.

Who owns ThinCats now?

ThinCats was acquired by Shawbrook Group, with the deal announced in September 2025. ThinCats continues to operate under its own brand as a relationship-led mid-market lender, now backed by Shawbrook's wider resources.

How long does a ThinCats decision take?

ThinCats has not published a standard turnaround time. It describes its approach as relationship-led, working through a dedicated regional business development manager and its own PRISM credit model to reach a decision within the timeframe the transaction needs, rather than offering an instant automated decision.