Which UK lenders lend to pre-profit or recurring-revenue businesses?
The answer
16 lenders in Solon's directory lend to businesses on revenue or growth rather than on EBITDA. By type, they are 1 asset-based or asset-finance lender, 2 challenger and specialist banks, 1 platform lender and 12 private-credit funds. Alphabetically, they are Atempo Growth, BBVA Spark, BOOST&Co (now Growth Lending), Bootstrap Europe, Claret Capital Partners, Columbia Lake Partners, HSBC Innovation Banking, Kreos Capital, Palatine Growth Credit, PNC Business Credit, Salica Investments, Shawbrook Bank, Stride Ventures, Trinity Capital, Viola Credit and Wayflyer.
Answered by Solon Corporate Finance from the lenders’ own published terms · Last reviewed 27 September 2026
How this list is drawn
A lender appears here when it runs a growth or venture debt desk, or when one of its published products is sized on recurring or trading revenue rather than earnings.
What to know
Most cash-flow debt is sized on EBITDA, which leaves a loss-making or break-even company with little to borrow against. Venture and growth debt funds lend to companies backed by venture investors, usually alongside an equity round and often with warrants. Revenue-based lenders advance against recurring or card revenue and often take repayment as a share of it.
Both cost more than bank debt, and both need a credible path to profit or to the next funding round. The guide to debt or equity sets out when borrowing beats dilution.
The lenders16
| Lender | Type | What they lend | Published range | Reviewed |
|---|---|---|---|---|
| Atempo Growth | TypePrivate credit · Growth & venture debt | LendsVenture / growth debt | Range£2m–£13m | ReviewedAug 2026 |
| BBVA Spark | TypePrivate credit · Growth & venture debt | LendsVenture debt / growth lending | Range£2.6m–£21m | ReviewedAug 2026 |
| BOOST&Co (now Growth Lending) | TypePrivate credit · Growth & venture debt | LendsVenture debt term loan, equity warrant (kicker), bridge facility | Range£250k–£15m | ReviewedJul 2026 |
| Bootstrap Europe | TypePrivate credit · Growth & venture debt | LendsVenture debt / growth debt | Range£850k–£13m | ReviewedAug 2026 |
| Claret Capital Partners | TypePrivate credit · Growth & venture debt | LendsGrowth / venture debt | Range£2m–£100m | ReviewedAug 2026 |
| Columbia Lake Partners | TypePrivate credit · Growth & venture debt | LendsGrowth / venture debt term loan | Range£3m–£10m | ReviewedJun 2026 |
| HSBC Innovation Banking | TypeChallenger & specialist · Specialist & niche banks | LendsVenture debt + growth lending | Rangeup to £15m | ReviewedJun 2026 |
| Kreos Capital | TypePrivate credit · Growth & venture debt | LendsGrowth & venture debt | Range£4m–£85m | ReviewedJun 2026 |
| Palatine Growth Credit | TypePrivate credit · Growth & venture debt | LendsGrowth credit | Rangefrom £2m | ReviewedAug 2026 |
| PNC Business Credit | TypeAsset-based · Asset-based lending | LendsABL revolving line of credit, secured term loan, cash flow term loan | Range£5m–£250m | ReviewedJul 2026 |
| Salica Investments | TypePrivate credit · Growth & venture debt | LendsSalica growth debt | Range£2m–£15m | ReviewedAug 2026 |
| Shawbrook Bank | TypeChallenger & specialist · Challenger banks | LendsSenior cashflow leverage (term loan, EBITDA-multiple sized), unitranche (sponsor-backed), Asset-based lending (ABL) | Range£3m–£50m | ReviewedJul 2026 |
| Stride Ventures | TypePrivate credit · Growth & venture debt | LendsVenture debt / growth credit | RangeNot published | ReviewedAug 2026 |
| Trinity Capital | TypePrivate credit · Growth & venture debt | LendsVenture debt, equipment financing | Range£2.4m–£40m | ReviewedAug 2026 |
| Viola Credit | TypePrivate credit · Growth & venture debt | LendsEuropean growth lending | Range£4.2m–£42m | ReviewedAug 2026 |
| Wayflyer | TypePlatform lenders · Platform & marketplace lenders | LendsRevenue-based cash advance / term loan, wholesale financing, scaler | Rangeup to £16m | ReviewedAug 2026 |
A reference list drawn from each lender’s published material, informational and not a ranking or a recommendation. Each name links to the lender’s profile, where the sources are listed.