British Business Investments Announces £20M Tier 2 Facility with DF Capital

British Business Investments, a subsidiary of the British Business Bank, has announced a £20m Tier 2 facility for DF Capital. This investment will enable DF Capital, a specialist bank providing inventory finance, to provide over £300m of new lending to SMEs in the UK.

British Business Investments aims to increase the availability of finance for smaller businesses in the country. Since its establishment in 2014, it has committed more than £3.3 billion to finance providers supporting UK SMEs.

DF Capital works with dealers and manufacturers across various sectors to provide inventory finance. This type of lending helps SMEs fund the purchase of stock before it is sold to customers. Last year, DF Capital provided over £1 billion of finance to around 1,000 dealers and nearly 100 manufacturers.

In addition to this new facility, DF Capital benefits from a £250m guarantee by the British Business Bank through its ENABLE Guarantee program. This guarantee may increase to £350m in the future.

Judith Hartley, CEO of British Business Investments, said that this facility supports their mission to increase the diversity and supply of finance for smaller businesses in the UK. Carl D’Ammassa, CEO of DF Capital, added that it allows them to grow their lending to over £800m, expanding their ability to support existing and new customers.

British Business Investments Limited is a wholly-owned subsidiary of the British Business Bank and operates on a fully commercial basis. As for DF Capital, it is a subsidiary of Distribution Finance Capital Holdings plc, headquartered in Manchester, and has provided over £2bn of funding across various sectors.

Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it

What do you think?

363 Points
Upvote Downvote

Written by editorial

Leave a Reply

Your email address will not be published. Required fields are marked *

Trading and Investing Platform eToro Appoints New Options Analyst

IFC Achieves Record Investment in Central Asia Amid Geopolitical Challenges