FUNDING CIRCLE INCREASES LOANS BY 23%

April 23rd, 2019.

Small business lender Funding Circle increased the amount of cash it lends to SMEs by 23 per cent to £644 million in the first three months of this year.


Of this, £419 million has gone to British SMEs alone. Funding Circle also lends to small businesses in Germany, the Netherlands and the US.

In 2018 Funding Circle lent £2.3 billion to small business across all four territories, of which the UK carved out a £1.5 billion share of peer-to-peer business lending.

The total amount of private investor cash Funding Circles manages increased by 44 per cent to £3.4bn in the first three months of this year – a record high. The UK accounted for £2.4 billion of this total.
 
 
SCOOTER & MOTORCYCLE BATTERIES FROM VE
April 23rd, 2019.

VE (UK)’s range of scooter and motorcycle batteries cover a vast range of manufacturers models and give...
  R&G RETURN AS OFFICIAL SUPPLIER TO BSB AND LAUNCH FIFTH ROOKIES’ TROPHY
April 23rd, 2019.

R&G has confirmed its fifth year as an Official Supplier to the BSB series, once again running the...
  MITAS TERRA FORCE
April 18th, 2019.

New from Mitas is the Terra Force-MX line-up of motocross competition tyres.


Offered with...
  WHY BUSINESSES SHOULD GO CASHLESS: PROS AND CONS
April 18th, 2019.

It’s an important question that every small business should ask themselves: cash or cashless?
  OXFORD LAUNCHES NEW DEDICATED LUGGAGE WEBSITE
April 17th, 2019.

Oxford Products has launched a new website dedicated to its full range of luggage options.

The site is...
 
   
 
News Story
EXTRA £200 MILLION BACKING FOR BRITISH BUSINESSES

REVISED Q1 REGISTRATION STATISTICS

MORE THAN 400 MOTORCYCLES IN BONHAMS’ - TWO-DAY SPRING STAFFORD SALE

OXFORD WORKSHOP ACCESSORIES

GET YOUR BUSINESS ONLINE IN FOUR EASY STEPS

CONTINENTAL THREE LAYER JACKET FROM OXFORD

SME's SEEK OUT NEW SOURCES OF FUNDING

BICKERS ANNOUNCES MOTOREX AIR FILTERS

WHEELS KEEP ROLLING FOR DIRT BIKE SHOW

HMRC OFFERS EU EXIT WEBINARS FOR IMPORTERS AND EXPORTERS

BANKING - THE FUTURE FOR SMALL TO MEDIUM SIZED BUSINESSES

MCIA DISAPPOINTED WITH ULEZ CHARGE

OXFORD STRETCHES TRAVEL ACCESSORY RANGE

GAERNE FASTBACK ENDURANCE IN STOCK NOW AT MRS

MORTONS ANNOUNCE NEW EVENT

Click here for older news »
 
 
Please select an archived story from the left.
EXTRA £200 MILLION BACKING FOR BRITISH BUSINESSES

April 17th, 2019.

The Exchequer Secretary, Robert Jenrick, today marked the launch of the new funding that will be made available to innovative businesses through funds supported by the British Business Bank. He said Ministers were determined to make the UK the best place in the world to start and grow a business. This type of funding has traditionally been sought by fast-growing firms in the science and technology sectors.


As the UK leaves the EU and the relationship with the European Investment Fund changes, the government remains committed to ensuring that innovative firms can access the finance they need to grow. The British Business Bank makes[stop] finance markets for smaller businesses work more effectively, allowing such firms to prosper and grow – therefore boosting the UK economy.

The Exchequer Secretary to the Treasury, Robert Jenrick, said: “The UK is creating more start-ups and attracting more venture capital funding than any other European country, but we want to do more to ensure our small businesses and entrepreneurs can thrive. That’s why we are injecting a further £200 million into the British Business Bank, specifically to back businesses that are scaling up”.

Business minister, Kelly Tolhurst, said: “We are fully committed to supporting small businesses to succeed as part of our modern Industrial Strategy, while building the UK’s status as one of the best places to start and grow a small business.

“This funding, supported by the government-backed British Business Bank, will play a key role in supporting innovative firms to access the finance they need to grow and thrive.”

CEO of the British Business Bank, Keith Morgan, said: “We welcome HM Treasury’s confirmation today that this allocation of £200 million is now available to increase provision of much-needed scale-up capital for innovative businesses across the UK. We look forward to putting the funding to good use through our delivery partners to enable such businesses to get the funding they need to grow and prosper.”

The British Business Bank currently supports more than £5.9 billion of funding to 82,000 smaller businesses. Businesses that have benefited from this type of funding include artificial intelligence firm, Quantexa, and technology company, Improbable Worlds Limited.

www.british-business-bank.co.uk


Privacy Policy