Tagged: british business bank

October 23, 2023 @ 10:29 am By JD Alois  |  

The UK government launched various programs to support businesses during the difficult days of the COVID crisis. While there is plenty of rear-view commentary today, at that time, things looked pretty dire for the UK economy, and supporting businesses that were hammered during the lockdowns… Read More

October 12, 2023 @ 11:09 am By JD Alois  |  

The British Business Bank says there are signs of recovery when it comes to accessing funding in comparing data from 2023 to 2022. As part of the Bank’s annual Nations and Regions Tracker, the document reported that in Q4 2022, 34% of small businesses were… Read More

October 5, 2023 @ 12:01 am By JD Alois  |  

The British Business Bank has announced a new fund for Scotland. The Investment Fund for Scotland will include £150 million in funding to assist smaller firms. The fund will provide loans from £25,000 to £2 million and equity investments up to £5 million. This is… Read More

September 25, 2023 @ 8:46 am By Omar Faridi  |  

British Business Bank is supporting more than £12.4bn of finance through its core programs and meets its objectives, but “reports a loss for 2022/23 due to falls in market valuations.” Louis Taylor, CEO, British Business Bank, said: “The British Business Bank has continued to build… Read More

September 19, 2023 @ 8:10 am By Omar Faridi  |  

ThinCats, an alternative lender, has agreed a new warehouse facility with Citi and Barclays Bank PLC supported by a guarantee through the British Business Bank’s ENABLE Guarantee program. This new facility supports lending of “up to £696m for mid-sized smaller businesses in the UK, making… Read More

September 4, 2023 @ 10:11 am By JD Alois  |  

The British Business Bank has appointed Karen Barnett as its new Chief People Officer. Barnett steps into the role from October 2023. Barnett joins the Bank from WH Ireland, a private wealth management, financial planning, and capital markets services company where she was Human Resources… Read More

August 30, 2023 @ 9:10 am By JD Alois  |  

British Business Investments says it has committed £30 million to the Panoramic SME III fund as part of a final close of £100m. British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank. Glasgow-based Panoramic was launched in 2008, becoming a top investor… Read More

August 18, 2023 @ 9:22 am By JD Alois  |  

The British Business Bank has announced an increase of £75 million to commercial lender DF Capital. This is an addition to an existing ENABLE Guarantee, which will see the facility increased to £250 million. The guarantee may be increased again at some point in the… Read More

July 30, 2023 @ 11:40 am By Omar Faridi  |  

The British Business Bank has published a list of 67 additional companies in which the Future Fund holds an equity interest, “taking total equity holdings to 591 as at 30 June 2023.” The rate of conversions in Q1 2023/4 increased “compared to the previous quarter,… Read More

June 9, 2023 @ 10:22 am By JD Alois  |  

The British Business Bank has hired a new risk officer. Established in November 2014, the Bank is the UK government’s economic development bank aiming to drive growth and prosperity. The British Business Bank has selected Chantal Geall as its new Chief Risk Officer (CRO), effective from… Read More

May 30, 2023 @ 9:30 am By JD Alois  |  

The British Business Bank has agreed to an initial £75 million ENABLE Guarantee with Cynergy Bank, according to a statement by the bank. The funds will guarantee a term loan portfolio of commercial real estate assets. There is an option to increase the amount to… Read More

May 29, 2023 @ 1:26 pm By Omar Faridi  |  

The British Business Bank announced a Call for Proposals as part of the launch of the government’s Long-term Investment for Technology and Science (LIFTS) initiative. It seeks proposals from industry “for the establishment of new funds or investment structures to crowd in UK institutional investment,… Read More

April 19, 2023 @ 7:52 am By Omar Faridi  |  

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims “to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers.” Since it was established in 2014, British… Read More

March 1, 2023 @ 1:00 am By JD Alois  |  

New British Business Bank research indicates that challenger and specialist banks provided £35.5 billion in lending during 2022. This means that challenger/specialist banks garnered a 55% share of the market. One would expect that many of these financing platforms are Fintechs. The data is part… Read More

January 26, 2023 @ 3:22 pm By JD Alois  |  

The UK government created the Future Fund to provide access to capital to early-stage firms which were most likely unable to access debt capital during the COVID-19 health crisis. The fear was that a generation of innovative young firms would disappear as markets contracted and… Read More

January 24, 2023 @ 10:42 am By JD Alois  |  

LendInvest (LSE:LINV) has announced a partnership with the British Business Bank to aid in the building of more homes, financed by HSBC, according to a note from the Fintech. LendInvest states that HSBC will provide £100 million for LendInvest’s development finance program. The project is… Read More

January 22, 2023 @ 10:49 pm By JD Alois  |  

The British Business Bank has agreed to an initial £175 million “ENABLE Guarantee” for DF Capital, a subsidiary of Distribution Finance Capital Holdings plc. DF Capital received its banking license in September 2020. Headquartered in Manchester, DF Capital is a commercial lending and personal savings… Read More

December 15, 2022 @ 9:40 am By JD Alois  |  

The British Business Bank has appointed Eilish Jamieson and Matthew Elderfield as new non-executive Directors (NEDs) to the board of British Business Bank plc, effective from 21 and 22 November 2022, respectively. Jamieson was previously the Head of Audit at Goldman Sachs, where she led… Read More

October 27, 2022 @ 8:53 am By JD Alois  |  

The British Business Bank has posted an updated list that includes new companies backed by the Future Fund, one of several schemes enacted to provide assistance to firms harmed by the COVID-19 health crisis. Created in 2014, The British Business Bank is the UK government’s… Read More

October 5, 2022 @ 8:11 am By JD Alois  |  

British Patient Capital states that it has pledged €25 million to Finch Capital’s Europe Fund III. The Fund is now closed. Finch Capital is the UK and Netherlands-based VC firm. This Fund will focus on European Fintech firms that are deemed to have solid growth… Read More