Tagged: british business bank

Online SME Lender Funding Circle Approved for CBILS Lending

SME Marketplace lending platform Funding Circle (LSE:FCH) has been approved by the British Busines Bank as a lender under the  Coronavirus Business Interruption Loan Scheme (CBILS). The online lender becomes one of a handful of Fintechs in the UK facilitating the program. Funding Circle said… Read More

Digital Bank Starling Bank Comments on Being Accredited as a CBILS Lender

Following approval by the British Business Bank as  CBILS lender, Starling Bank – a digital-only bank, has issued a statement. Starling is a fully licensed and regulated bank, founded by Anne Boden, former Allied Irish Banks COO, in 2014. Helen Bierton, Starling Bank’s Chief Banking… Read More

British Business Bank Approves New CBILS Lenders Including Fintechs

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

Assetz Capital is First Property Marketplace to Receive Funding from British Business Investments

Assetz Capital has received £15 million in funding from British Business Investments (BBI). According to Assetz Capital, this is the first time a property-focused marketplace has received funding from BBI, a subsidiary of the British Business Bank. Assetz Capital states that the funding will support… Read More

British Business Bank Announces New Commitment With Funding Circle SME Income Fund Limited

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 Update: £800M Lent in Last 6 Months, Sean Glithero Leaves Auto Trader to Join as CFO

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 to Receive An Extra £40 Million From British Business Bank For Small Business Lending

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

New £40M Fund Made Available for Small Business

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 Invests £18M in Praetura Asset Finance

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 Gives Finance Provider Kingsway £16.5M Revolving Credit Under New Expansion Capital Initiative

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

Brief: British Business Bank Appoints Neeta Atkar As Non-Executive Director

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 Offers New Lenders An Enterprise Finance Guarantee Programme

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

Henry Howard Finance Joins with British Business Bank Enable Funding Program with £51 Million

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

British Business Bank Report: £3.5 Billion Goes to Equity in SMEs During 2015

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

British Business Bank Launches “Help to Grow” Program to Boost UK SMEs

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 Claims First 24/7 Funding Solution for SMEs: Lendinghive

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 Recommended for Bank Referral Scheme

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

British Business Bank: the UK Now Has a Record 5.4 Million Small Businesses

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 Expands Relationship with British Business Bank with SME Loans

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 & Finpoint Shortlisted for British Business Bank Referral Program

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

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