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BIRMINGHAM, United Kingdom — British financial technology company Lovey has secured a senior secured credit facility of up to £250 million from alternative asset manager Pollen Street Capital, providing additional lending capacity for small and medium-sized businesses across the United Kingdom. The financing arrangement, reported on October 28, 2026, represents the largest funding facility in Lovey’s history and supports its strategy of expanding direct business lending alongside its established brokerage operations. The agreement comes as many smaller companies continue to seek faster and more flexible access to working capital.
Financing Structure Provides Additional Lending Capacity
The facility comprises £50 million in committed capital and a further £200 million available through an accordion arrangement. This structure allows the financing capacity to increase subject to the applicable terms and conditions, providing Lovey with flexibility as its lending portfolio expands. The headline amount therefore represents the facility’s potential total capacity rather than an immediate cash investment of £250 million.
Lovey plans to use the arrangement to strengthen lending from its own balance sheet while continuing to connect customers with financing providers through its brokerage business. By combining direct lending and brokerage services, the company aims to serve businesses with different borrowing requirements and financial circumstances. The new facility is intended to support larger lending volumes and broaden access to funding across the SME market.
Lovey Builds on a Decade of Business Lending Experience
Founded in 2016 by Jack Smith, Lovey has expanded from a small lending brokerage into a financial services business employing approximately 120 people. The company reports having facilitated more than £600 million in loans to over 11,000 UK small and medium-sized enterprises. These figures demonstrate the scale of its historical lending activity, although they do not indicate the current value or performance of outstanding loans.
Lovey entered direct lending in 2022, building on its experience connecting businesses with third-party financing providers. The expansion allowed the company to provide financing directly while retaining access to its wider network of lenders. Its digital application process is designed to simplify borrowing, with the company reporting that businesses can submit an initial enquiry in approximately one minute and may receive funding within hours, depending on eligibility and approval.
SME Financing Remains an Important Fintech Market
Small and medium-sized businesses frequently require external financing to manage cash flow, purchase equipment, expand operations, or respond to unexpected expenses. Traditional lending processes can involve extensive documentation and approval procedures, creating demand for alternative providers offering streamlined applications and flexible financing arrangements.
Financial technology companies such as Lovey are using digital platforms and specialized lending models to address these requirements. However, providing faster access to credit also requires careful underwriting, responsible lending practices, and effective risk management. The availability and cost of financing depend on individual business circumstances, market conditions, and lender assessments.
Pollen Street Partnership Supports Future Expansion
The new facility follows previous financing arrangements secured by Lovey, including a £35 million revolving credit facility from Paragon Bank and a £10 million junior medium-term note programme from LGB Capital Markets. The Pollen Street agreement adds a larger source of potential funding capacity as the company seeks to expand its direct lending activities.
For Lovey, the partnership provides an opportunity to serve more businesses while developing its position in the UK SME finance market. Its ability to deploy the facility effectively will depend on borrower demand, credit performance, and operational execution. The transaction highlights continued institutional interest in fintech lenders that combine digital distribution with established credit management practices.
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