The British Business Bank announced on Wednesday it has committed up to £150 million for lending to UK small businesses through Funding Circle. According to the banking group, the transaction is under its ENABLE Funding program and is designed to accelerate lending to small businesses and… Read More
Funding Circle, a leading lending platform for small businesses, today announced that Sean Glithero will join the company as its new global Chief Financial Officer. This appointment follows a record-breaking first half of 2017 for Funding Circle with approximately £800 million lent to 8,000 businesses… Read More
Funding Circle announced on Thursday that government-owned British Business Bank would begin lending a further £40 million directly to small businesses through the marketplace lending platform. The website confirmed that this news comes less than two years after an initial £40 million investment by the British Business… Read More
As part of the ongoing policy initiative to keep the UK economy chugging along, Margo James, the Small Business Minister, announced the creation of a the British Business Bank’s 21st Enterprise Capital Fund, to be run by Active PE. The fund is aimed at helping… Read More
British Business Bank Investments Ltd, the commercial arm of the British Business Bank, today announced an £18M investment in Blackburn and Manchester-based Praetura Asset Finance. The investment, comprising £15M of matched funding and an additional £3m of expansion capital, will support at least £36M of smaller… Read More
British Business Bank Investments Ltd., the commercial arm of the British Business Bank, announced on Wednesday the first facility under its new expansion capital initiative. According to British Business Bank Investments, the first transaction is a £16.5 million revolving credit facility for Kingsway, a Cheshire-based asset finance specialist…. Read More
British Business Bank announced on Friday the appointment of Neeta Atkar as a new board of director’s non-executive director. Atkar reportedly has over 25 years experience working in the financial services private and public sectors across a range of risk disciplines. Atkar is currently TSB Bank’s chief… Read More
British Business Bank announced on Tuesday the launch of its new Entrepreneur Finance Guarantee (EFG) Programme that is exclusively for new lenders. The bank is aiming to increase the number and diversity of lenders offering EFG-supported facilities to smaller businesses by opening up the lender accreditation process. According… Read More
As part of the British Business Bank’s Enable Funding program, Henry Howard Finance as agreed to a £51 million lending facility to boost asset finance for SMEs. The new facility is 50% guaranteed by the European Investment Fund and is designed to broaden Henry Howard’s… Read More
Access to capital is imperative for SME growth. Small companies need debt and equity finance to hire employees and pursue strategies to expand operations. A vibrant equity ecosystem is imperative for early stage companies as typically it is more challenging to access debt finance. In… Read More
The British Prime Minister announced the “Help to Grow” program in February 2015. In the most recent budget statement, the Chancellor boosted the commitment from £100 million to £200 million. Today the program, managed by the British Business Bank, is announcing Lloyd’s Banking Group for… Read More
LDF, pointing to data that indicates SMEs still struggle to raise growth capital, has launched lendinghive; a 24/7 asset backed funding solution for SMEs. LDF has been in business for quite a long time. Created in 1986, LDF was initially established as a credit brokerage… Read More
Funding Options, a one-stop shop for SME finance, has been recommended for designation for the Bank Referral Scheme. Funding Options is a portfolio company of GLI Finance, an AIM listed company that controls multiple alternative finance platforms. In the Budget revealed earlier today, the Chancellor… Read More
In the UK, similar to other parts of the world, SMEs are the engine of economic growth and associated job and wealth creation. According to the Federation of Self-Employed and Small Businesses (FSB); Small businesses account for 99.3% of all private sector businesses at the… Read More
RateSetter has been working with the British Business Bank since July of 2014. Since that time RateSetter has facilitated approximately 1000 loans to sole traders and partnerships. Now, according to a report from RateSetter, the relationship will expand into SME lending. Rhydian Lewis, CEO of… Read More
Funding Options and Finpoint, both GLI Finance portfolio companies, have been shortlisted for the British Business Bank referral program. Established under the Small Business Enterprise and Employment Act, the program requires traditional banks to refer any SME whose loan has been rejected to an alternative… Read More
If your small firm is rejected for a bank loan in Britain next year, consider hearing out the bank’s entire response: There are alternatives. A British government scheme that requires banks to refer small firms rejected for loans to alternative finance providers is expected to be underway by… Read More
Chief Secretary to the Treasury, Danny Alexander, noted today the overwhelming importance of small business to the national economy; “Small businesses are the backbone of the British economy, so it’s only right that the government supports viable small businesses, particularly those struggling to access conventional finance.” “To… Read More
The UK government has announced the 25,000 loan provided to a small business as part of its Start Up Loan program. The program provides capital and mentoring for small businesses. The Start Up Loan initiative was created in 2012 and since that time it has… Read More
Deputy Prime Minister Nick Clegg has announced that up to £50 million will be made available for regionally-focused business lenders through the British Business Bank. Deputy PM Clegg commented on the announcement; “Britain’s economy isn’t built solely around big business. In fact, smaller businesses represent 99% of… Read More
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