Archives

October 26, 2021 @ 11:28 pm By Tony Zerucha  |  

The British Business Bank this week announced the Recovery Loan Scheme has passed a significant milestone, with 76 accredited lenders having offered more than £1bn to smaller UK businesses. Of the £1.06 billion of funding offered through 6,190 facilities so far, £822.8m has been drawn… Read More

October 8, 2021 @ 8:26 am By Tony Zerucha  |  

While more than 40 per cent of businesses in the United Kingdom have accessed external finance this year, the economic impact could be far greater, the British Business Bank’s first annual Regions and Nations Tracker reveals. The problems begin with a lack of local investors… Read More

September 14, 2021 @ 1:37 am By JD Alois  |  

The British Business Bank has published a list of 158 companies in which it holds equity following the Future Fund COVID support program. The Future Fund was established to backstop UK early-stage ventures that did not qualify for other COVID relief programs. The Future Fund… Read More

July 6, 2021 @ 12:06 pm By JD Alois  |  

The British Business Bank has published final data on the COVID relief programs that saw £79.3 billion in government-backed loans distributed to 1.67 million businesses. The UK government created multiple lending schemes designed to support businesses impacted by the Coronavirus. Both traditional financial services firms,… Read More

April 6, 2021 @ 1:00 am By JD Alois  |  

The Recovery Loan Scheme is now open for application. Administered by the British Business Bank, this is a new scheme to support access to finance for UK businesses as they turn the corner on the COVID-19 health crisis. The scheme, announced at the Budget on… Read More

March 10, 2021 @ 8:23 am By JD Alois  |  

The British Business Bank reports a surge in SME lending with 89% of businesses seeking funding in 2020 because of Covid-19. The Bank’s Small Business Finance Markets report states that 45% of SMEs surveyed applied for financing in 2020 in contrast to just 13% in… Read More

October 28, 2020 @ 10:19 am By JD Alois  |  

Assetz Capital, a peer to peer lender that originates secured loans, has received an additional £25 million from the British Business Bank for the UK Coronavirus Business Interruption Loan Scheme (CBILS). In March, Assetz Capital received £15 million from the British Business Bank to help… Read More

October 20, 2020 @ 8:09 am By JD Alois  |  

The Future Fund is a COVID support program for early-stage firms. The Fund provides access to capital to younger firms that do not qualify for other COVID support schemes. In brief, it is a matching program with the UK government will invest in convertible securities… Read More

October 7, 2020 @ 10:08 am By JD Alois  |  

The  British Business Bank has issued a response to a review by the National Audit Office Investigation into the Bounce Back Loan Scheme (BBLS).  The British Business Bank notes that the report highlights that the Bounce Back Loan scheme has succeeded in quickly supporting smaller… Read More

September 23, 2020 @ 7:55 am By JD Alois  |  

The British Business Bank has distributed some data points pertaining to the Future Fund on the 711 individual companies that have been approved to receive £720 million via convertible securities offerings. The Future Fund is a COVID support program that is seeking to support early-stage… Read More

June 22, 2020 @ 8:53 am By JD Alois  |  

The British Business Bank is committing £50 million through its Enterprise Capital Funds (ECF) program to a new fund: Epidarex Capital III UK LP. The fund, which totals £102 million, will invest in new life science companies from emerging research hubs across the UK. Epidarex… Read More

June 3, 2020 @ 10:53 am By JD Alois  |  

The British Business Bank has approved new lenders for several COVID-19 support schemes. According to a release, JCB Finance will join the other 18 Bounce Back Loan Scheme (BBLS) lenders who have been accredited since the program opened last month. Last Friday, Metro Bank was… Read More

May 27, 2020 @ 11:04 am By JD Alois  |  

The British Business Bank has announced the approval of four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). The new lenders include; The FSE Group, FW Capital, Mercia Asset Management and Whiterock Finance. The Bank said these lenders will be able… Read More

April 26, 2020 @ 7:01 pm By JD Alois  |  

  The British Business Bank has announced multiple new lenders added to the Coronavirus Business Interruption Loan Scheme (CBILS). Today, the British Business Bank has revealed the approval of the Allied Irish Bank (GB)/AIB (NI), ThinCats, Paragon Bank and IGF. These four lenders will join… Read More

April 10, 2020 @ 7:01 pm By JD Alois  |  

The British Business Bank has announced new lenders participating in the Coronavirus Business Interruption Loan Scheme (CBILS) including several digital banks. Established in 2014, the British Business Bank is the UK government’s economic development bank. The Bank’s mission is to make finance markets for smaller… Read More

September 4, 2018 @ 7:54 am By JD Alois  |  

As in most parts of the world, smaller businesses drive the bulk of job growth in the UK. Over 99% of all UK businesses are SMEs employing 0-249 people and 96% (approximately 5.5 million) are micro-businesses employing up to 9 people, accounting for 33% of… Read More

November 8, 2016 @ 1:20 pm By Erin Hobey  |  

The British Business Bank launched a new report “Spotlight: The Northern Powerhouse Investment Fund” at the MADE Festival in Sheffield. The report, published to mark the British Business Bank’s two-year anniversary, draws on the Bank’s own research together with other publicly-available data, highlighting the significant opportunities… Read More