Lovey lands £250m credit facility from Pollen Street to fund SME lending
What's the deal? UK fintech LoveyDealroom has a profile for this one. Try Dealroom → has agreed a senior secured credit facility of up to £250 million with alternative asset manager Pollen Street CapitalDealroom has a profile for this one. Try Dealroom →. The facility comprises £50 million of committed capital and a £200 million accordion, making it the largest funding arrangement in Lovey's history.
Why it stands out: The headline figure sits in the top 10% of all-time UK debt rounds, ranking around the 92nd percentile across 2,761 comparable deals.
What does Lovey do? Founded in 2016 by Jack Smith, the SME finance provider has grown from a one-person startup to 120 staff. It has funded more than £600 million in loans to over 11,000 UK small and medium-sized businesses.
What's the endgame? Lovey began lending from its own balance sheet in 2022, building on its brokerage roots. The new facility will increase its direct lending capacity, letting it offer larger loans while maintaining its broker panel.
What they're saying: "This new facility is an important milestone for us and will enable us to put more capital behind UK small businesses," said Smith. Pollen Street's Ethan Saggu cited Lovey's broker experience, noting it gives "an expert view of where demand for credit is going unmet."
By the numbers: The deal follows funding Lovey arranged in 2025, including a £35 million revolving credit facility from Paragon BankDealroom has a profile for this one. Try Dealroom → and a £10 million junior medium-term note programme from LGB Capital Markets.
The signal: The facility adds to a wave of specialist-lender funding; Pollen Street extended MS Lending GroupDealroom has a profile for this one. Try Dealroom → a £230 million line in July and closed £2.5 billion for its fourth private-credit fund in April. For Lovey, the ultimate scale depends on use of the accordion — it is a credit line, not an equity round, aimed squarely at expanding own-book lending.
Read more: theintermediary.co.uk
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