News

10 August 2022

First batch of lenders accredited for new iteration of Recovery Loan Scheme

Bank of Scotland, Coventry & Warwickshire Reinvestment Trust (CWRT), Lloyds Bank, NatWest and Royal Bank of Scotland now accredited to deliver the scheme Today the British Business Bank announces that it has accredited a first batch of five lenders under the new iteration of the Recovery Loan Scheme (RLS). The lenders – Bank of Scotland, […]

27 July 2022

Concept Ventures secures British Business Bank backing to launch £50m pre-seed fund ‘built for founders’

London, UK – Concept Ventures (Concept), formerly known as RLC Ventures, has launched an oversubscribed £50m pre-seed fund (the Fund) – including a £30m cornerstone commitment from the British Business Bank’s Enterprise Capital Funds (ECF) programme – to close the ever-increasing funding gap at pre-seed and create the largest, dedicated pre-seed fund in the UK. […]

21 July 2022

Catherine Lewis La Torre has been appointed CEO, British Patient Capital and Chair, British Business Investments, taking up the roles from the autumn

Catherine Lewis La Torre has been appointed CEO of British Patient Capital, one of the British Business Bank’s commercial subsidiaries, which launched the new Life Sciences Investment Programme and Future Fund: Breakthrough programme last year. Catherine has also been appointed  Chair of British Business Investments, taking over from Francis Small who recently concluded his term […]

20 July 2022

Recovery Loan Scheme offers over £4.5bn of lending to smaller businesses

Over £4.5bn of lending offered through more than 20,600 facilities for smaller businesses across the UK The British Business Bank announces today that, through the Recovery Loan Scheme, accredited lenders have offered over £4.5bn to smaller UK businesses as they steer a path towards a sustainable recovery. Of the £4.51bn of total funding offered through […]

14 July 2022

University spinouts twice as likely to succeed when funded by UK funding agencies

97% of spinout companies that emerged from UKRI research and that received funding from the British Business Bank and Innovate UK are currently active Spinouts with British Business Bank and Innovate UK funding exhibited stronger employment growth supporting a larger number of jobs Equity-backed spinouts are found across the UK but those in the ‘Golden […]

28 June 2022

Second Investing in Women Code annual progress report published

Today, the government publishes the second Investing in Women Code annual progress report. Launched in 2019, the Code is a commitment to support the advancement of women entrepreneurs in the United Kingdom by improving their access to the tools, resources and finance they need to achieve their goals. The number of Code signatories has now […]

22 June 2022

Equity investment in smaller UK businesses hit a record £18.1bn last year

Investment into UK smaller businesses in 2021 was almost double that of 2020, with a total of 2,616 deals Momentum continued into 2022 with equity investment of £7.6bn in Q1 2022, the highest recorded in a single quarter British Business Bank programmes supported 18% of all announced equity deals in the UK 2021 Equity investment […]

14 June 2022

Covid-19 loan guarantee schemes may have saved between 150,000 and 500,000 businesses and between 500,000 and 2.9m jobs, finds initial evaluation

Between 10-34% of BBLS borrowers and 7-28% of CBILS/CLBILS borrowers could have permanently ceased trading in 2020 without the schemes The Covid-19 loan guarantee schemes met their primary objectives of unlocking credit for businesses at scale and speed, and resulted in £78bn in guaranteed loan facilities Reduction of approval times between CBILS and BBLS was […]