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British Business Bank agrees ENABLE Guarantee transaction, supporting up to £200m of funding for Capital on Tap with NatWest

Press release 09 November 2026

The British Business Bank today announces an ENABLE Guarantee transaction supporting up to £200m of funding from NatWest to specialist lender Capital on Tap. The funding will facilitate Capital on Tap’s lending to smaller businesses that need flexible working capital.

Since 2012, Capital on Tap has sought to change the way entrepreneurs and small businesses access finance, becoming a positive disruptor in the UK finance space, through its use of innovative technology.

Capital on Tap provides flexible working capital via its business credit card, built specifically for small business owners. More than 300,000 small business customers have used their Capital on Tap business credit cards for more than £40bn of transactions in the UK.

The ENABLE Guarantees programme is designed to encourage additional lending to smaller businesses. Participating institutions are supported by a government-backed guarantee on defined portfolios of debt finance in return for a fee.

The programme is open to all UK banks, UK branches of foreign banks, asset finance providers and asset-based finance providers, as well as certain other categories of lenders which lend, or intend to lend, to viable small and medium-sized businesses operating in the UK.

As at October 2026, the programme had completed 23 transactions across 16 delivery partners since the programme launched, with total lending supported exceeding £7bn.

Business Secretary Jonathan Reynolds said:

Small businesses are at the heart of our communities, creating jobs and driving growth. This new funding will unlock opportunity and help more of them access the finance they need to grow.

Our mission is to deliver growth in every postcode and we want every business to have the tools they need to succeed.

Reinald de Monchy, Chief Banking Officer, British Business Bank, said:

We’re pleased to be working with Capital on Tap and NatWest on this new ENABLE Guarantee transaction. We’re enhancing the funding NatWest can provide to Capital on Tap, which in turn unlocks additional lending capacity for smaller businesses, helping them manage their working capital needs.

This collaboration demonstrates how the British Business Bank’s ENABLE Guarantees programme boosts access to finance for small businesses across the UK and increases diversity of supply. By supporting innovative specialist lenders like Capital on Tap, we’re helping ensure that more small businesses can secure the funding they need to thrive.

Damian Brychcy, Chief Executive Officer, Capital on Tap, said:

The ENABLE Guarantee is the type of infrastructure that helps accelerate the British economy and helps small business owners. This partnership with NatWest and the British Business Bank will give us more capacity to provide the needed working capital that small business owners truly need.

George Ross, Head of Speciality Finance, NatWest, said:

We’re pleased to support Capital on Tap in executing this new facility, with a portion of the senior commitment backed by the British Business Bank’s ENABLE Guarantees programme. The provision of the Guarantee alongside our financing will help to support increased access to SME lending through credit card receivables across the UK.

We look forward to working with Capital on Tap as they continue to build on their success in the business credit card market. Working alongside the British Business Bank on another successful transaction demonstrates our commitment to assisting wider initiatives that support UK SMEs access the funding they need to operate and grow.

At last year’s Spending Review, the capacity of the ENABLE Guarantees programme was increased from £2bn to £5bn, an uplift of £3bn. This additional capacity enables the Bank to support more finance providers to scale their lending to smaller businesses, increase the supply of finance, and create a more diverse smaller business finance market.

Further Information

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Notes to editors

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank’s core programmes support £23bn 1  of finance to almost 64,000 2  smaller businesses.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. 

With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at british-business-bank.co.uk. 

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party of Capital on Tap, NatWest or their products or services.

About Capital on Tap

Capital on Tap makes it easy for small businesses to manage their business spending, access funding, and earn rewards. Since 2012, over 300,000 small businesses have spent more than £40 billion on their Capital on Tap Business Credit Cards in the UK. Recognised for its consistent innovation, the company ranked #1 in the Fintech, Financial Services & Insurance category in the Financial Times' inaugural Europe's Long-Term Growth Champions 2025 list.

The Capital on Tap business credit card offers credit limits up to £250,000, cashback and other rewards, the ability to issue cards with individual spending controls to employees, and also integrates with popular accounting software.

About NatWest

NatWest serves 20 million customers across retail, commercial and private banking, across the UK. We help people, families, and businesses build financial confidence and thrive - whether that’s opening a first account, buying a home, growing a business, or planning for the future. Alongside a wide range of banking services, we provide specialist sector expertise and entrepreneurial support helping our business customers turn possibilities into progress.

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