Peer to peer lender ThinCats has facilitated a £2.4 million loan for the Academy of Contemporary Music (ACM) as part of a growth initiative by the Academy.
Founded in 1997 to provide higher education courses for students in the contemporary music and arts arena, ACM claims some impressive students to have graced its halls including Ed Sheeran, Newton Faulkner and Kate Nash.
Kainne Clements, owner of ACM, is also the proprietor of Metropolis Studios, offering students the opportunity to benefit from recording at Europe’s largest independent studio, that has recorded and mixed albums for Queen, Michael Jackson, U2, Lady GaGa, Amy Winehouse, Adele, Rihanna and many more.
Working alongside the Debt Advisory Team at RSM, Partner Damian Webb, commented on the debt financing;
“We approached a number of funders as part of this process, but what really appealed to ACM was ThinCats strong understanding of the business, and their ability to structure the funding appropriately. The ability to speak to real people who can respond quickly was a real factor in choosing ThinCats ahead of other lenders.”
Dave Sherrington, who heads business origination at ThinCats across London and the South East, said working with RSM was easy and they were pleased to back Clements and his future plans for expansion.
ThinCats added that discussions are already underway to secure a third site which will help ACM on their trajectory to doubling their student numbers.
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