26 November 2014

Inspired Capital plc

("Inspired" or the "Group")

Additional debt facilities

Inspired Capital plc, a challenger provider of customer-focused financial solutions to SMEs is pleased to announce that it has received credit committee approval from a new lender to provide a new debt facility of £25 million subject to legal documentation being finalised.

The Group recently announced an increase in its Lloyds facility to £50 million and this new facility, once secured, will take the total facilities for its invoice discounting business to £75 million. 

The new facility remains subject to legal documentation being finalised and will be utilised to finance the majority of the Group's growing invoice discounting business. It is expected that legal documentation will be completed in early 2015.

The documentation for the Lloyds increased facility is now complete.

Brian Cole, Chief Executive Officer of Inspired Capital plc, said: "Since our interim results announcement we have continued to see good uptake of our products and lending, further validating our stated strategy. Following the increase in the Lloyds facility we are delighted to announce today further progress with our plans to increase both the amount of funds available as well as the sources available to us."

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About Inspired Capital plc

Inspired Capital is building by organic growth and acquisition a new customer-friendly force in SME lending by deploying long term capital. There is an opportunity to grow considerably in an underserved sector, with SMEs traditionally finding credit difficult to access from the major clearing banks that often focus on the security and stability of retail and larger corporate lending.