Lovey secures £35 million revolving facility from Paragon Bank
The business, then trading as Love Finance, adds senior funding for its UK SME loan book.
Senior funding for direct lending
Love Finance, now branded Lovey, announced a £35 million revolving credit facility from Paragon Bank on October 1, 2025. The facility finances its own-book lending to UK small and medium-sized businesses.
The senior facility formed part of a wider financing structure alongside a separate £10 million junior medium-term note programme arranged by LGB Capital Markets. The £35 million bank facility is distinct from that programme’s issuance capacity.
From brokerage to a larger loan book
Founded by Jack Smith in 2016, the company combines direct lending with brokerage. The financing gives it more capital behind loans originated from its own balance sheet, helping it control lending decisions and tailor finance to SME borrowers.
Use of funds
Finance UK SME loans from the company’s own balance sheet