British Business Bank provides £40m extension to Funding Circle lending

Jan 5, 2017 · bdaily.co.uk

Screen shot 2017 01 05 at 06.38.37

The government-backed investment firm, British Business Bank, has announced an eight-figure expansion to its lending efforts on direct lending platform Funding Circle.

Following on from the £60m that the British Business Bank has provided to more than 10,000 UK businesses, the development bank will today begin lending a further £40m to the country’s small business community.

According to the bank, its efforts on the platform have so far created an estimated 30,000 new jobs, while obtaining around £5m in cumulative net interest for the taxpayer and has helped to establish alternative finance as a mainstream source of business funding.

Catherine Lewis La Torre, CEO of British Business Bank Investments Ltd, described so-called, ‘AltFi’, as an increasingly important source of business finance with an 85% increase in alternative lending between 2014 and 2015.

Read Complete Article

RT @gxpsummit: So excited to be featured by @techdotlondon in their 10 Must-See @LDNTechWeek events! We can't wait! #innovation #London #te…

This summer the world’s top @ParaAthletics stars compete in #SummerofWorldAthletics. Don’t miss out -->… https://t.co/HK9Va5Fbmb

#Network with #tech industry professionals & stay up to date with #LTW news & insights via our new LinkedIn group >… https://t.co/EzDh99asWa

Governments stand ready to regulate a cyberscape they do not understand https://t.co/u41JG7KijJ by @dobes

Texas hunters could soon be allowed to shoot wild boar from hot air balloons - but it's no joke https://t.co/R27Tsd6dzW

Tech.London Weekly

×