back Back

British Business Investments secures £20m Tier 2 facility

By Gloria Methri

August 24, 2023

  • British Business Investments
  • Cambridge & Counties Bank
  • FinTech

British Business Investments, Cambridge & Counties Bank, SME Lending, UK, SME Loans, FinTech, UKBritish Business Investments has announced a new £20 million Tier 2 capital facility for Cambridge and Counties Bank Limited. Funds raised from the facility will enable Cambridge & Counties Bank to increase its volume of competitive lending to smaller businesses over and above levels it might have otherwise been able to provide.

The investment has been made through British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, that aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers.

Since it was established in 2014, British Business Investments has committed more than £3.3 billion to providers of finance to UK smaller businesses. The British Business Bank has been supporting Cambridge & Counties Bank since 2018, with a £100 million guarantee through the ENABLE Guarantee programme, renewed in March 2023.

Leicester-headquartered Cambridge & Counties Bank specialises in providing lending and deposit products for smaller businesses. It was established in 2012 and lends to smaller businesses to invest in their own commercial premises, and to experienced commercial and residential property investors. It also provides finance for smaller businesses to acquire essential assets such as equipment, plant, machinery, or vehicles, using hire purchase and finance lease facilities.

Judith Hartley, CEO, 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 smaller businesses across the UK access the capital they need to grow.’’

Andrea Hodgson, Chief Financial Officer, Cambridge & Counties Bank, said, “We greatly value our long-standing relationship with the British Business Bank and are grateful to it for its latest investment in our new Tier 2 issuance program. As we progressively draw down on this, we will deploy the additional regulatory capital to further support our UK SME client base with their own financing and growth ambitions.”

Previous Article

August 24, 2023

Solana Pay integrates with Shopify to enable crypto payments

Read More
Next Article

August 24, 2023

REPAY expands eCash offering for bill pay and loan installments

Read More

IBSi Daily News Analysis


July 19, 2024

British Business Investments

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

FinTech Focus: Catch latest developments of the week

Read More

July 19, 2024

Airwallex obtains AFSL for expansion into retail investment offering

Read More

July 19, 2024

Aven raises $142m in Series D to bring home equity-backed credit card

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024