Shawbrook Bank has recently supported Affiniture Cards Limited (trading as Diners Club International) with the refinancing of their existing funding arrangements through the provision of a committed senior funding line. The funding from Shawbrook will support continued growth of Affiniture’s existing short-term credit portfolio with the bespoke structure also allowing the business to bring new products to the market.
Launched in 2011, Affiniture has successfully built a well-established suite of short-term credit products under the Diners Club International brand, including charge cards and travel spend solutions, to support the working capital needs of UK SME’s. The business now supports c. 6,000 UK SME accounts with over £125m of spend a year. Affiniture has built proven knowledge and track record in the SME financing space and in 2020 will be introducing a new fixed term loan product to further support its existing client base and the wider UK SME market.
Peter Murray, CEO of Affiniture says:
“Securing the new funding facility is an exciting development for Affiniture and provides us with the capacity to grow and provide new products to the SME market. This is a significant endorsement of the business, our core product offering and plans to roll out a fixed term financing product for the SME market”}
Warren Mutch, Structured Finance, Senior Director at Shawbrook Bank, says:
“At Shawbrook we understand the benefits a specialist lending proposition can deliver UK SMEs and we were immediately impressed with what Affiniture have developed for their growing book of business customers. The structure and flexibility of the wholesale finance facility we’ve put in place will help to further accelerate their growth strategy and development of new product offerings.”