Procurement of support services for Start Up Loans, part of the British Business Bank.
This event has ended
The Start-Up Loans Company, part of the British Business Bank, has launched a procurement for National, Regional and Specialist Business Support Partners.
Register for the procurement and download the Tender materials here. Please note that prior to accessing or downloading any of the Tender materials, each interested Supplier is required to sign and return a confidentiality agreement – instructions are within the link.
In addition, and as part of this procurement, Start Up Loans will be undertaking a Supplier Launch Event for interested suppliers. Further details can be found below.
An overview of the procurement and the Start Up Loans requirements are also set out below.
The Start-Up Loans Company, part of the British Business Bank, provides finance and support to aspiring and early-stage business owners from across the UK who struggle to access other forms of finance. The programme supports employment, enables economic growth and has a transformational impact on the lives of thousands of people. Start Up Loans is tasked with delivering support to an additional 33,000 Borrowers between April 2022 – March 2025. Find out more about Start Up Loans here.
The Start Up Loans Delivery Model
Currently, Start Up Loans Applicants receive pre-loan support from our Delivery Partners, acting as approved credit brokers for the purpose of sourcing eligible Applicants and introducing them to the Finance Partner, preparing and recommending applications to the Finance Partner. Those who successfully draw down a Start Up Loan (“Borrowers”) are offered 12 months of post loan support. Under the existing arrangements, both pre- and post-loan support are delivered via a network of Delivery Partners. You can find out about the current Delivery Partners here.
Our delivery model is changing: from April 2023 pre-loan support will be delivered by a network of National, Regional and Specialist “Business Support Partners”, and post loan support will primarily be offered by a single, UK-wide “Post Loan Support Partner” *.
*Please note that the Post Loan Support Partner is not part of this procurement; further details on the Post Loan Support Partner procurement will be published at a later date. Please also note that Specialist Business Support Partners will deliver both pre-loan and post-loan support.
What are Business Support Partners?
Business Support Partners’ responsibilities include:
- Generating interest in the Programme across the UK, within the Region(s) or for the Specialism(s) awarded.
- Supporting Applicants with the preparation of their application, including business plan, cash flow forecast and personal survival budget, ensuring all necessary supporting documents are on file, provided in an acceptable format and in line with expectations.
- Assessing Applicant credit worthiness, personal affordability, business viability, and recommending loans (or declining applications, as appropriate) for final approval by the Finance Provider, aligning to their regulatory obligations and aligning to the ‘Scheme Handbook’.
- Completing fraud & financial crime assessments on Applicants.
- Acting as an approved credit broker for the purpose of sourcing eligible Applicants and introducing them to the Finance Provider.
In addition to the above, Specialist Business Support Partners will deliver post-loan support to Borrowers (including providing mentoring, seminars and other learning materials).
Under the new model, Business Support Partners will either operate on a National or Regional basis, or focus on a Specialism:
- National Business Support Partners deliver high volumes of loans on a national scale. They also support cross cutting themes in society and thematic initiatives e.g. Environmental, Social and Governance, as well as under-served groups such as female entrepreneurs and ethnic minority groups. There will be two National Business Support Partners, both operating across the whole of the UK. This is in addition to SUL’s internal Business Support Partner, called ‘The Hub’.
- Regional Business Support Partners deliver within a specific Region. As well as supporting cross-cutting themes, Regional Business Support Partners also have an advanced understanding of their regional market and a strong regional presence. The UK is divided into twelve Regions based on the Nomenclature of Territorial Units for Statistics definitions. Each Region will be allocated a single Business Support Partner.
- Specialist Business Support Partners have a strong understanding of specific Specialisms and deliver bespoke services that are relevant to Start Up Loans Applicants and Borrowers for the respective Specialism. Under this procurement, there will be two Specialist Business Support Partners, one covering Military and one covering Young; both operating across the whole of the UK.
Find out more about Start Up Loans’ Business Support Partners, register interest in this procurement, and download the tender materials here. Please note that you will be required to sign and return a confidentiality agreement prior to being granted access to the tender documents – instructions on how to do so are within the link.
The Start-Up Loans Company will be holding a launch event for the Business Support Partner procurement.
- Date: 4 August 2022
- Location: Online, via webcasting platform
The launch event will provide an overview of the procurement including the Start Up Loans delivery model, key requirements of Business Support Partners, the procurement process and timelines. This will include a Q&A session.
We strongly recommend that Suppliers review the tender materials before registering for the launch event, to ensure you understand the opportunity and so that you come prepared with any questions which may be relevant to you. As noted above, please be aware that you will be required to sign and return a confidentiality agreement prior to being granted access to the tender documents – instructions on how to do so are within the link.
If you would like to find out further information about this procurement, please follow the link to register and access the tender materials. For more general enquiries, please contact our procurement team via email at: Procurement@british-business-bank.co.uk