British Business Investments supports nearly 27,000 SMEs

In its 2017/18 full-year results, the commercial arm of the British Business Bank (BBB) revealed that in addition to the £1.2bn it had invested in increasing finance options for UK SMEs, third parties had provided a further £9.1bn, resulting in total funding across the market of £10.3bn.

Overall, this represented a 43% increase on the £7.2bn provided to the SME lending market during the 2016/17 financial year.

British Business Investments invests in challenger banks, non-bank lenders and venture and growth capital funds to increase the choice of finance for SMEs.

During the 2017/18 financial year it increased its number of investment partners from 38 to 58.

Among its investment partners are a number of specialist lenders including Liberis, MarketInvoice, Haydock Finance, Funding Circle, Shawbrook and Ultimate Finance.

“Our latest investments have enabled us to increase the supply of capital to a broad range of small- and medium-sized businesses, recognising their importance to the success of the UK economy,” said Catherine Lewis La Torre, CEO at British Business Investments (pictured above).

“In the 2017/18 financial year we have again produced tangible results, and I look forward to building on this success further as we address the challenges and opportunities of the year ahead.”

Keith Morgan, chair of British Business Investments, added: “We are pleased to report a strong set of results for the 2017/18 financial year, a broadening of British Business Investments’ remit, an increase in profits and an expansion of our network of finance partners.

“As a wholly owned subsidiary of the British Business Bank, British Business Investments plays a key role in helping achieve the group’s overall objectives – increasing the size and diversity of finance markets and producing positive returns on UK taxpayers’ investments.”