News

28 January 2021

Future Fund Publishes Diversity Data of Companies Receiving Convertible Loan Agreements

£1,066.6m worth of convertible loans approved for 1,055 companies 39% of funding to companies outside London worth £419.8m 77% 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 1,055 companies that […]

28 January 2021

British Business Bank support schemes delivers almost £71bn of loans to smaller businesses

£44.7bn Bounce Back Loan Scheme £20.8bn Coronavirus Business Interruption Loan Scheme £5.1bn Coronavirus Larger Business Interruption Loan Scheme £.1.07bn Future Fund Today the government published new statistics that show businesses across the UK have to date benefitted from 1,559,226 government-guaranteed loans worth £70.7bn to support their cashflow during the crisis through schemes delivered by the […]

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 […]

25 September 2020

British Business Bank confirms changes to ‘undertaking in difficulty’ guidance

To be eligible for these schemes, businesses previously had to demonstrate that they were not an ‘undertaking in difficulty’ – a requirement under EU State aid law – as of 31 December 2019. The definition of ‘undertaking in difficulty’ includes businesses that: had accumulated losses greater than half of their subscribed share capital (for limited […]

24 September 2020

Coronavirus loan schemes and the Future Fund extended to 30 November 2020

The Chancellor of the Exchequer has today extended the government’s three Coronavirus business interruption loan schemes and the Future Fund. The extension aligns all the end dates of the schemes to 30 November, ensuring that there is further support in place for those who may need it. More businesses will now be able to benefit […]