News

19 April 2021

Redrice Ventures reaches £50 million first close for venture fund to back the next generation of category-leading and culture-defining brands

A group of leading entrepreneurs and investors have joined forces with the sector body for British brands to reach first close for a £50 million venture capital fund that will support some of the most exciting purpose-led brands and related technology companies in the premium consumer space. Redrice Ventures (“Redrice”) has brought together a combination […]

6 April 2021

Recovery Loan Scheme opens to support businesses as they recover from the pandemic

The new scheme will support borrowing of up to £10m for individual businesses and up to £30m across a group, and, once received, the funds can be used for any legitimate business purpose, including managing cashflow, growth and investment. It is designed to appeal to businesses that can afford to take out additional finance for […]

25 March 2021

British Business Bank support schemes delivers over £75bn of loans to 1.6m smaller businesses

Today the government published new statistics that show businesses across the UK have to date benefitted from 1,630,155 government-guaranteed loans worth £75.1bn to support their cashflow during the crisis through schemes delivered by the British Business Bank. This includes 1,531,095 Bounce Back Loans worth £46.5billion, 98,344 loans worth £23.3 billion through the Coronavirus Business Interruption […]

25 March 2021

Future Fund Approves £1.2 Billion of Convertible Loan Agreements

£1.20bn worth of convertible loans approved for 1,236 companies 40% of funding to companies outside London worth £483.6m 77% of funding to mixed gender senior management teams 56% of funding to companies with both ethnic minority and white senior management team members Today the British Business Bank publishes Future Fund data that gives a detailed […]

16 March 2021

British Business Bank welcomes outcome of Integrated Review

The National Security Strategic Investment Fund (NSSIF), the government’s corporate venturing arm for dual-use advanced technologies, plays a key role in fostering technological innovation. A joint initiative between the UK Government and the British Business Bank, NSSIF supports the provision of long-term equity capital, needed by companies developing new capabilities in areas of strategic importance […]

10 March 2021

Record levels of smaller businesses sought external financial support in 2020, with further significant demand expected in 2021, finds British Business Bank research

Almost half (45%) of SMEs applied for external financial support in 2020, compared to 13% in 2019 Gross bank lending to SMEs up 82% to £104bn, with significant further demand expected in 2021 In the 4th quarter of 2020 33% of smaller businesses expected to shrink over the next 12 months 89% of businesses seeking […]

3 March 2021

Budget 2021: British Business Bank Response

Catherine Lewis La Torre, Chief Executive, British Business Bank, said: “The Chancellor has confirmed the British Business Bank’s central role in the next phase of the UK’s economic recovery from Covid-19. As businesses begin to plan for the post-Covid period, they will need targeted finance to support them. We welcome today’s announcement of two new […]

25 February 2021

British Business Bank support schemes deliver almost £73bn of loans to 1.6m smaller businesses

Today the government published new statistics that show businesses across the UK have to date benefitted from 1,593,620 government-guaranteed loans worth £72.9bn to support their cashflow during the crisis through schemes delivered by the British Business Bank. This includes 1,500,466 Bounce Back Loans worth £45.6billion, 92,449 loans worth £22 billion through the Coronavirus Business Interruption […]

25 February 2021

Future Fund Publishes Diversity Data of Companies Receiving Convertible Loan Agreements

£1.12bn worth of convertible loans approved for 1,140 companies 39% of funding to companies outside London worth £438.7m 78% of funding to mixed gender senior management teams 57% of funding to mixed ethnicity senior management teams Today the British Business Bank publishes Future Fund data that gives a detailed picture of the 1,140 companies that […]

11 February 2021

British Business Bank appoints Elizabeth O’Neill as General Counsel

The British Business Bank has appointed Elizabeth O’Neill as General Counsel and Company Secretary of the British Business Bank plc, effective from 15 February 2021 Elizabeth O’Neill is a highly experienced General Counsel with more than 20 years’ experience in the public and private sectors advising on EU competition law, international law and corporate governance. […]