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 […]