British Business Investments grants £20m funding boost for small businesses
British Business Investments has introduced a new £20, funding opportunity for Cambridge & Counties Bank.
This funding will enable the bank to offer more loans to small businesses, surpassing its regular lending capacity.
The aim of British Business Investments is to improve the accessibility and variety of financing for small businesses across the UK by strengthening the lending capabilities of various financial providers.
Since its founding in 2014, British Business Investments has allocated over £3.3 billion to support finance for small businesses in the UK.
Cambridge & Counties Bank, headquartered in Leicester, focuses on lending and deposit offerings for small businesses.
Established in 2012, the bank lends to small businesses for their commercial spaces and supports property investors. It also aids small businesses in acquiring necessary assets like equipment, machinery, and vehicles through hire purchase and finance lease options.
The British Business Bank has been assisting Cambridge & Counties Bank since 2018, offering £100 million via the ENABLE program, which was renewed in March 2023.
Judith Hartley, CEO of British Business Investments, said: “At British Business Investments, our mission is to increase the overall supply and diversity of finance for smaller businesses across the UK. This £20m Tier 2 facility to Cambridge and Counties Bank supports that mission and will help more smaller businesses across the UK access the capital they need to grow.’’
