Evolution Money has announced a new three-year, £100m senior debt facility with NatWest.
The arrangement allows Evolution Money to provide new product opportunities, such as being able to lend up to £50,000 to consumers over 20 years.
Evolution CEO Steve Brilus said: “I am delighted that we are continuing our partnership with NatWest who have supported Evolution since 2013. This sizeable commitment reflects our strong working relationship with the NatWest team, their confidence in our business and a shared vision of the future opportunities that exist in our sector.“
Matt Glew, relationship director of NatWest’s Large Corporate & Institutions business, added: “We are very happy to have closed this new facility with Evolution, and are looking forward to continuing to work closely with Steve and the team as the business moves into the next stage in it’s journey. We have extensive experience in the second charge mortgage sector and are excited to see Evolution grow with our support.”
Filip Skolnik, structured finance director at NatWest, said: “This commitment is a testament to the quality of the business that Steve and the Evolution team have built over the years, and we are pleased to have supported the business during its earlier years and having now structured a new financing solution that will enable progression to the next exciting growth stage.”