Our aim is to make finance markets work better for small businesses in the UK at all stages of their development: starting up, scaling up and staying ahead.
We will increase the supply of finance available to smaller businesses where markets don’t work well.
We will create a more diverse and vibrant finance market for smaller businesses, with a greater choice of options and providers.
We will build confidence in the market by increasing smaller businesses’ understanding of the options available to them.
We will achieve this whilst managing taxpayer resources efficiently and within a robust risk management framework.
The British Business Bank is 100% Government owned, but independently managed. It brings expertise and Government money to the smaller business finance markets. We don’t lend or invest directly. Instead we work with over 80 partners such as banks, leasing companies, venture capital funds and web-based platforms.
Businesses apply for finance through our partners, and because they work with us they can lend and invest more, especially to younger and faster growing companies.
In total we work through more than 80 finance partners in the market, and we will unlock up to £10 billion of new finance and bring greater choice and information on finance options to smaller businesses.
Our programmes are designed to bring benefits to smaller businesses that are start-ups, high growth, or simply viable but underfunded. We have a commercial arm, British Business Bank Investments Ltd, which makes investments into providers of finance to smaller business in the UK.
East Riding, Hull, North East Lincolnshire, North Lincolnshire
NPIF is a collaberation between the British Business Bank and ten Local Enterprise Partnerships in the North West, Yorkshire, Humber and Tees Valley and provides commercially focussed finance to help SME’s start and Grow.
Electric String, the Hull-based audio-visual systems specialist, has secured a £100k loan from the Northern Powerhouse Investment Fund (NPIF). This is the first investment in Humber by the NPIF – Enterprise Ventures Debt Finance.
The investment follows a number of new contract wins at Electric String, which designs and installs bespoke systems for homes, corporate spaces and luxury yachts.
The company now plans to expand its 17-strong team with the appointment of an engineer and business development manager. Founded in 2010 by …