British Business Investments will provide £25 Million to Shire Leasing and Shire Securities. The goal is to support smaller firms, specifically in the agriculture, business services, manufacturing, and construction sectors.
The British Business Bank stated that it has had a successful operating relationship with Shire Leasing plc for over a decade. In that time Shire has grown from £50 million ten years ago to over £225 million today.
Jonathan Marriott, Senior Director Structured Financial Institutions Solutions at the British Business Bank, said:
“We are pleased to be continuing the Bank’s support for independent operators in the asset finance sector on a truly national basis with this investment into the Shire group of companies. “The use of our block discounting model has proved to be an effective way of providing valuable additional funding by widening the choice of finance options that smaller businesses across the UK can access. We look forward to working with Shire over the coming years to help those businesses get the finance they need.”
