Wholesale Guarantee pilot launched
Press release
The British Business Bank has launched the pilot phase of a new Wholesale Guarantee programme designed to encourage additional lending to small and medium-sized businesses.
Participating banks will benefit from a government-backed portfolio guarantee, to cover a portion of a designated lending portfolio’s net credit losses in excess of an agreed ‘first loss’ threshold, in exchange for a fee.
The pilot phase, which will test the concept, is open to all UK banks and UK branches of foreign banks which lend, or intend to lend, to viable small and medium-sized enterprises operating in the UK. During the pilot stage we will finalise the specific terms, legal documentation and operational procedures to be used in the potential future Programme.
To find out more and express an interest in participating in a pilot transaction please download our Request for Proposals. We expect to execute a maximum of two pilot transactions ahead of a wider potential Programme. Unsuccessful applicants to the pilot will be able to re-apply if and when a wider Programme opens.
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