Growth Street
Financial Services - , England, United Kingdom
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Growth Street Details
Growth Street was launched in 2015 with the mission to support the UK's SMEs. Its formation was in response to the difficulties being faced by SME businesses in obtaining finance. In 2018 it was granted full authorisation by the FCA, becoming a key platform for P2P investors.By 2019, the business had gained strong traction, funding over £500m of loans through its revolving credit product, GrowthLine, to businesses up and down the country which, along with its peers, played a key role in supporting the UK's SME sector.In 2020, the ongoing economic conditions caused by the Covid-19 pandemic led the platform to call a Liquidity Event. The continued impact of Covid-19 on the economic environment meant normal platform operations did not resume, and a Resolution Event was called in June 2020. In July 2020, prevailing conditions led the business to begin a solvent wind down of operations, which was completed in April 2021, after 100% of P2P capital and interest assigned as part of the Resolution Event was returned to P2P investors. We are grateful to all team members, past and present, for their incredible hard work and dedication.
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