BNP Paribas: Swoop Funding announces a partnership to offer unsecured loans to SMEs

Swoop Funding is pleased to announce a partnership with BNP Paribas asset management (“BNPP AM”) which will allow it to offer unsecured loans up to £ 5 million to SMEs.

Borrowers can access funds between 500,000 GBP and £ 5 million, significantly higher than the standard unsecured facility.

Swoop’s offering fills a market gap for SMEs that need debt financing to support growth without having to provide collateral. These loans are the latest addition to Swoop’s growing line of financial products targeting SMEs and their advisors, including traditional sources of finance such as debt and equity, alternative sources such as bill finance and assets, business subsidies, etc.

The loans will be part of BNPP AM’s direct SME alternative finance lending activity, which enables SMEs to access long-term unsecured finance in the UK, The Netherlands and Germany.

Damon walford, Commercial Director of Swoop, commented; “Swoop offers businesses and their advisors access to a wide range of financing opportunities through our digital marketplace. Our partnership with BNPP AM adds to this considerable financing power and allows Swoop to support companies wishing to accelerate their growth and / or make acquisitions by combining a team of experienced finance professionals with cutting-edge technology on the market.”

Stéphane Blanchoz, Head of Alternative Financing for SMEs at BNP Paribas asset management, commented: “As a complementary source of financing to traditional bank loans, long-term unsecured credit offers borrowers a unique and invaluable form of financing to support the sustainable expansion of their businesses. Our partnership with Swoop will allow us to continue expanding our access to UK SME and to benefit from the invaluable experience and expertise of Swoop in this market. “

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Notes to Editors:

Swoop’s matching platform helps start-ups and SMEs access finance in the form of equity, debt and grants. She looks for the best financing solutions according to the stage of development and the sector of activity of the company. Swoop can also help businesses identify savings and reduce costs in areas such as banking, foreign exchange, insurance, utilities, and broadband. Advice and guidance is provided for, among others, business current accounts, international payments, energy, bad debt protection and collection, and insurance. Swoop was named to the ‘Hot Ten’ list for the Global Fintech 50 for 2019.

See www.swoopfunding.com

About BNP Paribas asset management

BNP Paribas asset management is the asset management arm of BNP Paribas, one of the world’s leading financial institutions, and offers high value-added solutions to individual savers, businesses and institutional investors. She has a wide range of skills in four investment divisions: Equities, Fixed Income, Private Debt & Real Assets, and Multi-Asset, Quantitative and Solutions (MAQS). Sustainability is at the heart of BNP Paribas Asset Management strategic decision-making and investment process, actively contributing to the energy transition, the protection of the environment and the promotion of equality and inclusive growth. Its objective is to obtain long-term sustainable investment returns for its clients. BNP Paribas asset management has assets under management of € 474 billion* (like a March 31, 2021), with more than 500 investment professionals and approximately 500 customer service specialists, serving retail, corporate and institutional clients in 71 countries.

* 609 billion euros of assets under management and advice March 31, 2021

For more information, visit www.bnpparibas-am.com. For more information on alternative financing for SMEs at BNPP AM, visit https://smealternativefinancing.bnpparibas-am.com.

For more information:

Charlotte forsberg

Marketing Director

+44 7918 941669

charlotte@swoopfunding.com

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