THINCATS has recruited a new associate director for business development in London and the south east of England.
Jack Price has joined the peer-to-peer business lender from Santander.
Price joined Santander as a graduate in 2014 and worked his way up to relationship manager in 2016 before being promoted to associate director.
He has experience of working with large corporate manufacturers and mid-sized firms.
His role at ThinCats will centre around supporting business development directors with originating, structuring, writing and overseeing the delivery of a broad range of lending facilities across the business.
“Across the market we are seeing many small- and medium-sized enterprises (SMEs) turn to finance providers like ThinCats to support their growth ambitions,” Price said.
“I look forward to being part of a business that is providing crucial funding for growing SMEs in the short and long-term. ThinCats’ winning combination of data and experienced business development directors enables its tremendous success.”
Damon Walford, chief development officer at ThinCats, said Price’s experience means he “will be dealing with businesses and their advisers across all industry sectors from initial enquiry through to deal completion.”
It comes after the platform recorded a 45 per cent rise in gross profits to £2.3m in the 12 months to 31 December 2018.
Its annual accounts showed administrative costs, interest payments and taxes left it with an overall loss of £878,000.
This was a marked improvement from the £2.1m loss it posted in 2017.