British Business Investments has announced a follow-on investment of £15 million into Universal Leasing Limited, a company based in the North-West of England. This investment builds upon a previous commitment of £12 million made in 2018 and aims to further support smaller businesses. The investment will be structured as a block discounting facility, enabling Universal Leasing to provide funding support to small businesses looking to acquire critical assets for growth.
Over the past decade, Universal Leasing has provided funding of over £150 million to more than 6,000 customers in the SME sector. British Business Investments, a wholly-owned subsidiary of the British Business Bank, is focused on increasing the supply and diversity of finance for smaller businesses in the UK. Since its establishment in 2014, it has committed over £3.3 billion to finance providers supporting UK smaller businesses.
CEO of British Business Investments, Judith Hartley, expressed optimism about the investment, stating that it will allow Universal Leasing to expand its support for smaller businesses across the UK. Universal Leasing’s Managing Director, Michael Hughes, highlighted that the increased facility will help increase funding available to SMEs in the UK, allowing them to acquire essential assets for growth.
British Business Investments Limited is a commercial subsidiary of the British Business Bank, an economic development bank operated by the UK government. Its objective is to earn a commercial return by investing in smaller businesses and small mid-caps through finance providers. Neither the bank nor its subsidiary entities are banking institutions and they are not regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
Universal Leasing Ltd, trading as Admiral Leasing & Loans, is an independent asset finance specialist with over 28 years of experience. It provides equipment leasing solutions through approved suppliers and brokers, serving various industry sectors. The company has gained a strong reputation in the UK market due to its excellent customer service and extensive industry knowledge.
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