News

25 November 2020

Spending Review 2020: British Business Bank Response

Catherine Lewis La Torre, Chief Executive, British Business Bank, said: “The Chancellor has confirmed the British Business Bank’s budgets for 2021/22, as well as announcing expansion in some areas. This package enables us to build on our work to date, including in response to Covid-19, so that we can continue to support smaller businesses in […]

19 November 2020

Future Fund Publishes Diversity Data of Companies Receiving Convertible Loan Agreements

£875.8m worth of convertible loans approved for 874 companies 40% of funding to companies outside London worth £352.8m 80% of funding to mixed gender senior management teams 64% of funding to mixed ethnicity senior management teams Today the British Business Bank publishes Future Fund data that gives a detailed picture of the 874 companies that […]

19 November 2020

British Business Bank support schemes deliver almost £65.5bn of loans to smaller businesses

Today the government published new statistics that show businesses across the UK have to date benefitted from 1,476,042 government-guaranteed loans worth almost £65.5billion to support their cashflow during the crisis through schemes delivered by the British Business Bank. This includes 1,397,475 Bounce Back Loans worth £42.2billion, 77,909 loans worth £18.5billion through the Coronavirus Business Interruption […]

16 November 2020

British Business Bank accredits new lender to Bounce Back Loan Scheme

GC Business Finance to offer Bounce Back Loans in the Greater Manchester region The British Business Bank has approved GC Business Finance, part of the Growth Company, for accreditation under the Bounce Bank Loan Scheme (BBLS). GC Business Finance will provide Bounce Back Loans of up to £50k to small and micro businesses from the […]

10 November 2020

Bounce Back Loan Scheme top-ups open for eligible businesses

From today, participating lenders in the Bounce Back Loan Scheme (BBLS) are able to offer smaller businesses across the UK a ‘top-up’ to their existing Bounce Back Loan if they originally borrowed less than the maximum amount available to them. The Bounce Back Loan top-up will be available from several large lenders from today, with […]

2 November 2020

Coronavirus loan schemes and Future Fund extended to 31 January 2021

The Prime Minister announced this afternoon that the government’s three Coronavirus business interruption loan schemes – the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS) – and the Future Fund will be extended to 31 January 2021. It was also announced that […]

27 October 2020

British Business Investments appoints Adam Kelly as new Managing Director

Adam was previously Director of British Business Investments’ Structured Capital Solutions portfolio. As part of that role, Adam has led investments in challenger banks and has been key in its support for that sector. Adam built his career in corporate finance with investment banks, Dresdner Kleinwort and JP Morgan Cazenove before becoming involved in the […]

22 October 2020

British Business Bank support schemes deliver almost £62bn of loans to smaller businesses

£40.2bn Bounce Back Loan Scheme £17.2bn Coronavirus Business Interruption Loan Scheme £4.6bn Coronavirus Larger Business Interruption Loan Scheme £771m Future Fund Today the government published new statistics that show businesses across the UK have to date benefitted from 1,410,037 government-guaranteed loans worth £61.9bn to support their cashflow during the crisis through schemes delivered by the […]

21 October 2020

Entrepreneurs from ethnic minority backgrounds experience substantially worse business outcomes than white entrepreneurs

Black entrepreneurs report lower turnover and profit than White entrepreneurs, and many fewer meet their business aspirations Black female business owners, and female business owners from Asian and Other Ethnic Minority backgrounds experience the lowest levels of business success Economic background and location are critical to entrepreneurial success, irrespective of ethnicity and gender Black business […]