Tagged: british business bank

British Business Bank: Small Business Equity Tracker Shows 88% Increase in 2021

The British Business Bank has shared the results of its annual Small Business Equity Tracker and the numbers for 2021 appear pretty strong. The Equity Tracker uses data from Beauhurst on publicly announced equity deals into UK SMEs. According to the Bank, equity investments in… Read More

British Business Bank: COVID Schemes Saved 500,000 to 2.9 Million Jobs

The British Business Bank is distributing an “Evaluation Report” on the impact of the COVID loan guarantees that indicates 150,000 to 500,000 businesses were saved and between 500,000 to 2.9 million jobs were maintained. The report was authored by London Economics and Ipsos. The document… Read More

Louis Taylor will Become British Business Bank CEO in October

Louis Taylor will take over the reins of the British Business Bank as its new CEO beginning on October 1, 2022. The Bank is the UK’s economic development bank. Taylor is currently CEO of UK Export Finance, the UK government’s export credit agency. Before joining… Read More

“Hatchet Job” : Times Article Rips Future Fund COVID Support Scheme for Startups

This week the Times published an article on the Future Fund and its performance, slamming it for “over 30 failures.” Managed by the British Business Bank, the Future Fund was one of several COVID support programs designed to backstop firms impacted by the pandemic. The… Read More

UK Equity Investment: £14 Billion Invested Through Q3 Topping All of 2020

The British Business Bank has published its Small Business Finance Markets Report 2021/22.  According to the report, over £14  billion was invested in equity offerings during the first three quarters of 2021 – surpassing all of 2020. The British Business Bank is a development bank… Read More

British Business Bank Announces Increase to Business Lender Simply’s ENABLE Funding Facility

The British Business Bank has announced an increase to business lender Simply’s ENABLE Funding facility. In total, the facility will reportedly offer £300 million of funding to SMEs across the United Kingdom. This is notably the largest facility under the British Business Bank’s ENABLE Funding… Read More

British Patient Capital CEO Says UK Venture Capital is Notable Success in the Time of COVID

  Judith Hartley, CEO of British Patient Capital, says the performance of UK venture capital is a notable success story during a challenging period for businesses across the world British Patient Capital is a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s… Read More

British Business Investments Commits £30 Million to Mobeus Equity Partners

British Business Investments, a subsidiary of government-backed British Business Bank, has committed £30 Million to Mobeus Equity Partners, according to a note from the firm. The money will go into the Mobeus Equity Partners Fund V. Mobeus invests in smaller companies, to support their growth… Read More

Recovery Loan Scheme Surpasses £1 Billion Lending Mark

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

Familiarity Breeds More Investment in UK Businesses: BBB Report

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

ThinCats to Offer Up to £300M Additional Funding to UK Companies via British Business Bank’s ENABLE Guarantee Program

ThinCats, a UK-based lending platform, will be providing up to £300 million additional funding to businesses via the British Business Bank‘s ENABLE Guarantee program. The ThinCats team wrote in a blog post that they’re pleased to be utilizing a guarantee offered by the British Business… Read More

British Business Bank Shares List of Firms that it Holds an Equity Stake After Future Fund Investment

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

Manx Financial Group’s Conister Approved by British Business Bank to Offer Recovery Loan Scheme

Conister Finance & Leasing has been approved as a British Business Bank accredited lender for the UK Government’s Recovery Loan Scheme (RLS). Conister is part of Manx Financial Group (AIM:MFX). The company says the announcement comes at a time when the Government-backed Bounce Back Loan… Read More

New UK Innovation Strategy to Cement the Nation’s Position as a Leader in Science, Research, Innovation: Report

Updated plans to put the United Kingdom at the front of the global innovation race have been shared by the Department of Business, Energy & Industrial Strategy, the UK Research and Innovation unit as well as other organizations and individuals. Released on July 22, 2021,… Read More

Future Fund: Breakthrough – Now Open for Applications

The Future Fund: Breakthrough, opens today for applications.  The new programme was revealed by the Chancellor of the Exchequer, Rishi Sunak, during the budget speech this past spring. The £375 million scheme is designed to encourage private investors to co-invest with the government in high-growth… Read More

British Business Bank Posts Data on COVID Relief Loans: £79.3 Billion Distributed

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

UK’s Starling Bank Accredited by British Business Bank as Lender Under Recovery Loan Scheme

UK-based digital bank Starling has been accredited by the British Business Bank as a lender under the government-backed Recovery Loan Scheme (RLS), which is the successor to the Coronavirus Business Interruption Loan Scheme (CBILS). Starling had previously been approved as a lender under the initial… Read More

Mouro Capital: UK Venture Capital Concern About Government Dominance Unfounded

Manuel Silva Martinez, General Partner at Mouro Capital, says that concerns about the UK venture capital industry is entirely unfounded. In the UK, venture firms are the most common equity investors in early-stage UK companies. VCs top both investment crowdfunding platforms as well as individual… Read More

British Business Bank: Recovery Loan Scheme Open for Applications

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

British Business Bank Reports that 1.63 Million Loans Have Delivered £75.1 Billion for Firms Impacted by COVID-19

Last week, the British Business Bank updated on progress pertaining to loans given to UK firms impacted by the ongoing COVID-19 health crisis. Originated under several government programs designed to support businesses during a difficult time, the Bank said that 1,630,155 government-guaranteed loans worth £75.1… Read More

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