British Business Investments announces a £15m facility to Catfoss Finance Limited
Press release
British Business Investments today announces a £15m facility to Catfoss Finance Limited (“Catfoss”). The transaction will be structured as a block discounting agreement that will allow Catfoss to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.
British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to improve access to alternative finance for smaller businesses across the whole of the UK, while supporting the UK’s transition to a net zero economy. Since it was established in 2014, British Business Investments has committed more than £3.8 billion to providers of finance to UK smaller businesses.
Catfoss has been providing supportive, individual and practical funding solutions to the UK SME marketplace for more than 20 years. It offers a range of funding products to enable UK businesses to purchase new equipment or release equity from owned assets to help fund growth. The firm takes great pride in offering a personal service and looks at each individual case on its own merit, aiming to offer a nationwide coverage with a local service.
This £15m facility to Catfoss supports British Business Investments’ mission to improve access to alternative finance for smaller businesses across the whole of the UK. Independent operators like Catfoss help diversify the UK’s smaller business finance market, providing more choice. We look forward to working with Catfoss to help smaller businesses get funding for the assets they need to continue their growth journey. Adam Kelly Managing Director, British Business Investments
We are very proud to partner with British Business Investments. This facility enables Catfoss to further increase its lending to the UK SME marketplace and continue to give business the credit it deserves. We know our business and we will get to know our customers, so together we can create a strong, long term partnership. Matthew Tate Managing Director, Catfoss Finance Limited
Further information
Notes to editors
About British Business Investments
British Business Investments Ltd is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
The Bank and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc or its subsidiaries or any other party in respect of Catfoss Finance Limited or its products or services.
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