Record number of firms see investment

Record number of firms see BBI investment The annual report of British Business Investments (BBI), the consumer arm of the government-backed British Business Bank, reveals an additional 15 commitments of £547m in the year to 31 March 2020. The BBI has supported over 37,000 SMEs this year, representing an increase of almost 9% year-on-year, with investments including a £15m commitment to Assetz Capital, a Manchester-headquartered property-focused marketplace lender. BBI chair Francis Small commented: “Excluding the exceptional impact of COVID-19 on our financial return, British Business Investments has once again delivered on its overall objectives. The COVID-19 pandemic has had a devastating impact on many of the UK’s small and medium-sized businesses. We have worked closely with our delivery partners and have increased our commitments to them, as they have continued to provide essential finance to the UK’s SMEs.”