Tagged: british business bank

August 25, 2022 @ 9:32 am By JD Alois  |  

The British Business Bank has announced a new ENABLE Funding facility to Propel, an independent asset finance provider. Propel was launched in 1996 to provide accessible finance to SMEs in the UK. Today, Propel has grown to become one of the UK’s largest independent finance… Read More

August 11, 2022 @ 8:52 am By Omar Faridi  |  

NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund, has “invested £250,000 in RiskSmart.” RiskSmart is currently “developing an integrated risk management platform that will make risk management simpler for SMEs by utilizing Machine Learning (ML)… Read More

July 24, 2022 @ 6:47 pm By Omar Faridi  |  

Judith Hartley has been appointed CEO of British Business Investments, which is one of the British Business Bank’s commercial subsidiaries. Judith Hartley, who was appointed acting CEO of British Patient Capital and British Business Investments in September 2020, will “take up the permanent role of… Read More

July 20, 2022 @ 9:04 am By JD Alois  |  

Today, the UK government has announced that the Recovery Loan Scheme (RLS), launched in April 2021 to help businesses counter the COVID crippled economy, will be extended for a further two years. Originally set to end last December, during the Autumn Budget the government extended… Read More

June 22, 2022 @ 2:00 am By JD Alois  |  

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

June 14, 2022 @ 8:56 am By JD Alois  |  

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

June 9, 2022 @ 9:24 am By JD Alois  |  

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

April 29, 2022 @ 9:18 am By JD Alois  |  

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

March 1, 2022 @ 9:48 am By JD Alois  |  

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

December 19, 2021 @ 10:58 pm By Omar Faridi  |  

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

November 28, 2021 @ 8:49 pm By JD Alois  |  

  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

November 1, 2021 @ 11:24 am By JD Alois  |  

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

October 26, 2021 @ 11:28 pm By Tony Zerucha  |  

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

October 8, 2021 @ 8:26 am By Tony Zerucha  |  

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

October 4, 2021 @ 8:49 am By Omar Faridi  |  

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

September 14, 2021 @ 1:37 am By JD Alois  |  

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

August 24, 2021 @ 8:48 am By JD Alois  |  

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

July 26, 2021 @ 3:20 pm By Omar Faridi  |  

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

July 20, 2021 @ 1:00 am By JD Alois  |  

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

July 6, 2021 @ 12:06 pm By JD Alois  |  

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