Tagged: british business bank

January 9, 2024 @ 8:58 am By JD Alois  |  

The British Business Bank has announced an additional £21.25 million in funding for an existing ENABLE facility. The funding is in partnership with Tower Leasing. According to a statement distributed by the Bank, the money will go to fund smaller businesses aiming to acquire assets… Read More

December 15, 2023 @ 3:05 pm By Omar Faridi  |  

The British Business Bank has launched an asset-based lending variant of the Recovery Loan Scheme. The asset-based lending variant aims to “broaden the support available for small businesses in the UK to access finance through the Recovery Loan Scheme, making use of a broad range… Read More

December 13, 2023 @ 10:03 am By JD Alois  |  

The British Business Bank has added to an existing ENABLE Build Facility to United Trust Bank (UTB) increasing the amount by £100 million. Now, the total facility is at £350 million. According to the British Business Bank, UTB has now provided £830 million to smaller… Read More

December 12, 2023 @ 8:22 am By Omar Faridi  |  

The British Business Bank, the UK’s economic development bank, has appointed Ian Connatty as its first Deputy Chief Investment Officer. This is in addition to his role “as Managing Director, Direct and Co-investment, British Patient Capital, a commercial subsidiary of the Bank.” The Deputy Chief… Read More

December 6, 2023 @ 8:13 am By Omar Faridi  |  

Research from the British Business Bank, UK Venture Capital Financial Returns 2023, finds UK venture capital funds continue “to perform well overall compared to their US and European counterparts, but top performing UK funds lag behind leading US funds.” Historically, US VC financial returns “were… Read More

November 27, 2023 @ 9:33 am By Omar Faridi  |  

The British Business Bank is launching its new £130 million Investment Fund for Wales, unlocking additional funding “to help smaller businesses to prosper and thrive.” The fund will drive sustainable economic growth by “supporting new and growing businesses across the whole of Wales through investment… Read More

November 16, 2023 @ 11:22 am By Omar Faridi  |  

The British Business Bank launches a new £70million commitment to support smaller businesses from all sectors right across Northern Ireland. The Investment Fund for Northern Ireland (IFNI) aims “to drive sustainable economic growth by supporting innovation and creating local opportunities for new and scaling businesses… Read More

November 1, 2023 @ 11:27 am By JD Alois  |  

The British Business Bank says it has agreed to a £100 million ENABLE Guarantee transaction with Oxbury Bank, a financial institution that focuses on farmers, food production and the rural economy. Oxbury is described as an “AgTech” bank that operates a Fintech platform called OxburyEarth… Read More

October 26, 2023 @ 9:01 am By JD Alois  |  

The Future Fund was one of several programs designed by the UK government to backstop firms during the COVID crisis. Managed by the British Business Bank, the Future Fund was created to help early-stage ventures which frequently need ongoing cash injections to get to profitability…. Read More

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