Shawbrook, a provider of business financing, has unveiled a loan product aimed at fuelling the growth ambitions of SMEs in the UK. The newly launched CapEx Loan is tailored to address a gap in traditional SME financing options, offering up to £100,000 in unsecured funding.
In a statement, Shawbrook said what sets the CapEx Loan apart is its focus on supporting both tangible and intangible capital expenditure, an area often overlooked by conventional loan solutions. Unlike asset finance, which typically caters solely to tangible assets, this new offering enables SMEs to invest in essential growth-oriented expenses such as refurbishments, IT costs, and other intangible assets crucial for expansion.
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Examples of funded deals under the CapEx Loan include financing gym equipment for a new fitness centre, acquiring new tooling for a garage fit-out, establishing cleaning facilities for a car leasing company, purchasing CNC machinery from overseas, and installing a car simulator at an automotive sports complex.
The company said this financing solution enables SMEs to unlock their growth potential without the constraints of traditional financing structures. By providing funding for business investment ambitions, SMEs can benefit from more favourable terms compared to standard business term loans, enabling Shawbrook to deliver greater value and tailored support to its SME clients, the statement said.
Stuart Doignie, managing director of Digital SME at Shawbrook, expressed optimism about the CapEx Loan’s potential to address the financing needs of UK SMEs. He stated: “The UK SME landscape is teeming with ambition, yet access to the right kind of financing often remains a challenge. Traditional options may fall short in supporting the diverse needs and complexities of capital expenditure investments. With the introduction of the CapEx Loan, we aim to fill this gap and provide SMEs with the flexible and customised support they require to thrive.”
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