Travers Smith LLP has advised Shawbrook Bank (Shawbrook) and Hampshire Trust Bank (HTB) on a facility upsize to Newble Commerce.
Newable Commerce focuses on funding exporting SMEs, offering working capital products that fit the long payment cycles of international business.
The facility upsize was provided alongside a new £40 million facility by Quilam Capital. Newable Commerce aims to use the funding to simplify the export process for SMEs by providing flexible debt facilities for up to two years and expediting funding applications within days.
Head of Finance Charles Bischoff commented: "We are pleased to have advised long-standing clients Shawbrook and HTB on this facility upsize, allowing Newable Commerce to increase its support to SMEs."
The Travers Smith team was led by Head of FinanceCharles Bischoff, and Associates Simon McPartlan and Phillipa Lamberton. The team also advised the senior lenders on the original facility.