Tagged: british business bank

British Business Bank Provides Updated Future Fund Diversity Data

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

British Business Bank Comments on Bounce Back Loans and NAO Investigation

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

British Business Bank Publishes Diversity Data on Future Fund Convertibles

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

UK’s P2P Lender Folk2Folk Remains Confident it will Be Approved to Issue Loans Under CBILS Scheme

UK-based Folk2Folk, a peer to peer lender supporting local and rural businesses, has confirmed that it’s still confident that it will be approved to begin lending under the country’s Coronavirus Business Interruption Loan Scheme (CBILS), even though the application deadline will come at the end… Read More

British Business Bank: Coronavirus Loans Working

The British Business Bank says the Coronavirus loan schemes are benefiting businesses in all corners of the UK. According to a note distributed by the Bank, loans are tracking the business population of each region. The loans are being provided by both traditional financial services… Read More

New Lenders Added for CLBILS While 1.2 Businesses Supported by COVID Schemes, Future Fund Grows Too

Today the British Business Bank has announced that it has approved Allied Irish Bank, Investec Bank plc, and Mercedes-Benz Financial Services UK Limited have been accredited under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). These three new CLBILS lenders will be able to provide… Read More

HM Treasury Update Shows Ongoing Rise of COVID-19 Support Schemes, Bounce Back Loans Top One Million, Future Fund at £380 Million

  HM Treasury has posted its weekly update on its COVID-19 business support schemes and as one would expect the numbers continue to push higher. HM Treasury reports that more than one million businesses have been approved to receive £45 billion in financing support. In… Read More

Newly Approved Lenders Under British Business Bank Coronavirus Loan Schemes Include Multiple Fintechs

The British Business Bank has announced six newly approved lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), three new lenders for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and two new lenders for accreditation to the Bounce Back Loan… Read More

HM Treasury: Future Fund Extended to Certain Firms that Participated in Non UK Accelerator Programs, Funding Allowed to Surpass Initial £250 Million Amount

The Chancellor of the Exchequer has adjusted the Future Fund to enable businesses that contribute significantly to the UK economy but do not have their parent company based in the UK because they participated in a non-UK based accelerator program to qualify for the Fund…. Read More

Fintech Previse Approved to Use CBILS Loans for Late Payments

UK Fintech Previse has been approved for accreditation by the British Business Bank under the CBILS scheme, according to a note from the company.  An invoice financing platform, Previse recently secured $11 million in funding through an investment round led by Mastercard and Reefknot Investments…. Read More

Future Fund Has Approved £236 Million in Convertible Loans for 252 Companies

The British Business Bank has distributed data on the Future Fund indicating £236.2 million worth of convertible loans have been approved for 252 companies. Launched on May 20, 2020, the Future Fund is a government plan designed to aid entrepreneurial young firms that did not… Read More

The British Business Bank Commits £50 million to New Epidarex Capital III UK LP fund

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

As of May 31st, 464 Early Stage Firms Had Applied for the Future Fund

The Future Fund, a UK government initiative to support startups and early-stage ventures – many of which are not profitable, reported 464 applications for the program as of May 31st. As part of a weekly update, HM Treasury quantified the number of applicants – a… Read More

British Business Bank Continues to Add more CBILS, BBLS Accredited Lenders

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

New Lenders Approved for CBILS

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

The Future Fund Opens Today

Long-anticipated, the Future Fund opens for applications today. The Future Fund will remain open until September and is delivered in partnership with the British Business Bank. The Future Fund was revealed in April by Chancellor of the Exchequer Rishi Sunak as part of a package… Read More

UK Government Provides Details on the Future Fund, Platforms Can Participate

The previously announced Future Fund will open for applications beginning May 20, 2020, following a period of deliberation where the UK government sought to sort out the details as to how, and for who, the COVID-19 support program would provide capital. The British Business Bank… Read More

British Business Bank: More Lenders Added to BBLS and CBILS Including MarketFinance

The British Business Bank has announced new lenders approved for the Bounce Bank Loan Scheme (BBLS) as well as the Coronavirus Business Interruption Loan Scheme (CBILS). The BBLS and CBILS are two programs designed to support the UK economy during the COVID-19 pandemic. Two new… Read More

Initial Data: Over 69,000 Bounce Back Loans, £2+ Billion, Approved in 24 Hours

The newest COVID-19 support package created by the UK government appears to be a big hit with UK businesses. According to a post by HM Treasury, over 69,000 loans valued at more than £2 billion have been approved in just 24 hours. Bounce Back Loans… Read More

British Business Bank Adds New Lenders to CBILS Including Fintechs

The British Business Bank has announced nine new lenders for accredited under the Coronavirus Business Interruption Loan Scheme (CBILS), bringing the total number of CBILS lenders to over 60, according to a release. The new lenders include: Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social… Read More

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