Lender review · Mid-market SME term loans (now part of Shawbrook Group)
ThinCats
- Reviewed May 2026
- Editor Oliver Mackman
- Methodology Public
Mid-market SME term lender focused on the £1m to £15m ticket band underserved by mainstream banks. Acquired by Shawbrook Group in September 2025; the original Business Loan Network Limited trading entity (CN 07248014) is in liquidation as part of the post-acquisition restructure. The ThinCats brand continues for established broker-introduced mid-market deals through Shawbrook. For most use cases, refer to the Shawbrook entry.
Director, BestBusinessLoans
Oliver leads BestBusinessLoans's editorial reviews and methodology. With a background in UK commercial finance, he oversees lender research, rate verification and review independence.
Last reviewed: 8 May 2026
At a glance
- Product
- Mid-market SME term loans (now part of Shawbrook Group)
- Ticket size
- £1m to £15m
- Typical rate
- Bespoke, quoted at offer
- Decision time
- 2 to 6 weeks
- Soft search at quote
- No
- Limited companies only
- Yes
- FCA regulated
- Yes (check the FCA Register)
Scores against our methodology
- Rate transparency4/5
- Eligibility clarity3/5
- Decision speed2/5
- Decline handling4/5
How ThinCats works
ThinCats operates as a mid-market sme term loans (now part of shawbrook group) provider in the UK SMB market. Mid-market SME term lender focused on the £1m to £15m ticket band underserved by mainstream banks. Acquired by Shawbrook Group in September 2025; the original Business Loan Network Limited trading entity (CN 07248014) is in liquidation as part of the post-acquisition restructure. The ThinCats brand continues for established broker-introduced mid-market deals through Shawbrook. For most use cases, refer to the Shawbrook entry.
The product mechanic is straightforward in shape but the underwriting is sector-specific. Tickets sit in the £1m to £15m band, decisions land within 2 to 6 weeks, and the published rate range is Bespoke, quoted at offer. A hard search may apply at quote stage; ask before you submit if credit-file footprint matters to you. ThinCats is FCA regulated.
Where ThinCats fits best: mid-market smes £1m+, mbos, acquisitions and growth capital, broker or adviser-introduced cases. Where it does not fit: sub-£1m tickets (route to shawbrook proper or funding circle), self-serve borrowers, speed-prioritised cases.
Pricing examples
Worked examples using ThinCats's published rate range (Bespoke, quoted at offer). This lender prices by factor rate or bespoke quote, so we show the structure, not a worked APR.
| Ticket | Term | Estimated total cost | Approx monthly |
|---|---|---|---|
| £25,000 | 24 months | See lender quote | See lender quote |
| £50,000 | 36 months | See lender quote | See lender quote |
| £100,000 | 48 months | See lender quote | See lender quote |
Indicative only. Confirm on a ThinCats quote.
Eligibility
- Trading time: typically 12 to 24 months minimum for the cleanest pricing.
- Turnover floor: not always published. As a working figure, expect a £100k+ turnover requirement for term loans of £50k+. Smaller tickets and MCA structures have lower floors.
- Sector exclusions: Sub-£1m tickets (route to Shawbrook proper or Funding Circle); Self-serve borrowers; Speed-prioritised cases.
- Credit profile: Clean credit preferred; older satisfied items often acceptable.
- Company structure: Limited companies only.
- Best fit: Mid-market SMEs £1m+; MBOs, acquisitions and growth capital; Broker or adviser-introduced cases.
Pros
- + Genuine mid-market specialism (£1m to £15m) that fintech and high-street banks both gap.
- + Now backed by Shawbrook's PRA-regulated balance sheet.
- + Established broker channel and adviser-introduced cases.
- + Strong record on management buyouts, acquisitions and growth capital.
Cons
- − Long underwriting cycle (2 to 6 weeks); not a speed product.
- − Broker or adviser-introduced only; no direct self-serve route.
- − Pricing bespoke; not published.
- − Original trading entity in liquidation; new applicants effectively route through Shawbrook.
Best for
- · Mid-market SMEs £1m+
- · MBOs, acquisitions and growth capital
- · Broker or adviser-introduced cases
Weak at
- · Sub-£1m tickets (route to Shawbrook proper or Funding Circle)
- · Self-serve borrowers
- · Speed-prioritised cases
When to use ThinCats
Use ThinCats when
Your application matches the best-fit profile: mid-market smes £1m+, mbos, acquisitions and growth capital, broker or adviser-introduced cases. The published ticket range (£1m to £15m) covers your ask, the decision speed (2 to 6 weeks) fits your cash-gap timeline, and the rate range (Bespoke, quoted at offer) is acceptable to you given your credit profile.
Do not use ThinCats when
Your profile sits in the weak-at list: sub-£1m tickets (route to shawbrook proper or funding circle), self-serve borrowers, speed-prioritised cases. ThinCats will likely decline, and the decline itself can sit on broker records for 90 days. If you have any of these flags, route directly to a specialist (post-decline lender, MCA against card flow, asset-backed alternative) rather than using ThinCats as a screen.
FAQs
What is the minimum trading time for ThinCats?
ThinCats typically asks for 12 to 24 months of trading. Newer businesses can sometimes qualify against alternative underwriting (card flow for MCA, asset security for asset finance), but the cleanest pricing tends to require two full sets of accounts.
Does ThinCats require a personal guarantee?
Most UK SMB lenders require a personal guarantee from at least one director. ThinCats is no exception in the standard case. The few exceptions: asset-backed lending where the asset itself stands as security, and a small number of MCA structures where card flow is the underwriting basis. For mid-market sme term loans (now part of shawbrook group) specifically, expect a PG to be requested.
How fast does ThinCats fund?
ThinCats quotes 2 to 6 weeks for an underwriting decision. Funding to bank account typically follows within one to three working days of acceptance, subject to KYC, signed documents, and (where applicable) registration of any debenture or charge.
What rate should I expect from ThinCats?
ThinCats's published range is Bespoke, quoted at offer. The headline number is rarely the offered number. Rate transparency on this lender scores 4/5 in our methodology. Expect the cleaner end of the band only if you have 2+ years of trading, clean credit, and turnover comfortably above the lender's stated floor.
What happens if ThinCats declines me?
If ThinCats declines, you have three realistic next steps. First, ask for the decline reason in writing, most reputable UK lenders will tell you. Second, route the application to a specialist post-decline lender (Bizcap, JPM Capital, Bolton Finance) where credit issues are the constraint, or to an asset-backed alternative where security is available. Third, use a broker panel to fan the application across the lenders most likely to accept your specific decline reason. ThinCats scores 4/5 on decline handling in our methodology.
Where to apply
Apply directly via www.thincats.com, or use our free quote form to be matched across the UK broker panel most likely to approve your specific profile, not just ThinCats.
Specialty alternatives
See all lender reviews for alternatives.
Reviewed by Oliver Mackman, Director. Last reviewed: 8 May 2026. Lender website: www.thincats.com.