BNP Paribas appoints Link to administer SME loan platform

The debt administrator’s European experience will assist the platform’s rollout across the continent.

BNP Paribas Asset Management (BNPP AM) has appointed Link Asset Services as a debt services provider for its alternative lending platform.

BNPP AM’s SME Alternative Financing platform is currently operating in the UK and provides direct loans to finance projects for SME companies.

Link Asset Services has been appointed due to its European presence which will play a key role in the future rollout of the platform into other geographies across Europe, BNPP AM said. Link currently administers and safeguards €100 billion of assets in Europe and has experience managing loans across 15 jurisdictions.

The platform has already closed its first loan in the UK. It typically finances firms with an annual revenue of less than €50 million and loans originated via the platform will be in the range of €500,000 to €5 million.

Stephane Blanchoz, head of SME alternative financing at BNPP AM, said: “We are hugely ambitious with regard to our new SME Alternative Financing platform and it is great to find a partner that shares our vision.

“Our new lending programme will contribute much needed finance diversification for UK and European SMEs, and Link Group is central to making it a success.”