Growth Lending Limited – a platform providing working capital for SMEs – today announces the appointment of Lauren Couch as its new managing director. The group offers both invoice financing and working capital solutions, and is an accredited lender for the government’s Coronavirus Business Interruption Loan Scheme (CBILS).
Couch moves from her role as principal at sister company BOOST&Co, where she set up and led the lender’s Bristol office, completing new business worth £83m in 22 months. She has extensive experience in working capital finance, including 16 years with RBS, where her roles included head of client relations in London and the south west, head of business development, and director of relationship management with responsibility for the south west’s corporate ABL portfolio, focusing on the large corporate space, with debt sizes of £10m to £100m.
Couch, who will work alongside fellow managing director Kristi Oliver, aims to turn Growth Lending into a £200m business in the next 12 months, having already witnessed its growth from £9m AUM at the beginning of 2020 to an expected £80m by the end of this year. An experienced manager, she will draw on the collective expertise of the group, which has been lending to UK SMEs since 2013.
Growth Lending works with innovative, fast-growing SMEs, helping them to accelerate their growth by providing flexible funding solutions ranging from £100,000 to £10m in selective invoice finance, invoice finance facilities, trade finance and revolving credit facilities. Backed by institutional capital, it has 30 employees across offices in London, Bristol and Cape Town.
The group, which was founded to support UK SMEs where traditional banks could not, lends via its three brands: GapCap, a generalist accounts-receivable and trade-finance funder; KX Media, a specialist media financer; and the working-capital arm of BOOST&Co, which provides funding to fast-growing and international SMEs.
Growth Lending Limited’s new managing director, Lauren Couch, says: “This is an incredibly exciting project. The group benefits from huge experience and strong funding lines, as well as a progressive and dynamic approach. I am particularly pleased to be able to support businesses amid the unprecedented circumstances created by Covid-19, when our type of fast, flexible funding is needed more than ever before.”
Lance Mysyrowicz, chair of Growth Lending, says: “We’re delighted that Lauren has accepted the role of managing director, having watched her build an extremely strong base for BOOST&Co in the south west. She shares our passion for helping SMEs and her experience in this field will drive forward the group’s wide range of products, helping us to achieve even greater success in funding innovative businesses that are ready to grow.”