British Business Investments, a commercial subsidiary of the British Business Bank, today announces a new £15m commitment to Liberty Leasing, which will increase access to finance for UK smaller businesses in the construction, engineering, transport, agriculture, and printing sectors.
The commitment is a £15m block discounting funding line which will enable Liberty Leasing to support smaller businesses requiring vital funding for critical equipment as the UK economy recovers from the effects of the pandemic.
Liberty Leasing is a Southampton-based specialist asset finance company, which was founded in 2001.
British Business Investments aims to increase the supply and diversity of finance for smaller businesses across the UK, by boosting the lending capacity of a range of finance providers, including asset finance partners. Since it was established in 2014, British Business Investments has committed over £2.5bn to providers of finance to UK smaller businesses.
Judith Hartley, CEO of British Business Investments, said: “British Business Investments’ objective is to ensure smaller businesses can access as diverse a range of finance options as possible, to help them grow and succeed. Supporting independent operators, such as Liberty Leasing, helps to diversify the finance market and provide more choice for UK smaller businesses. We look forward to working with Liberty Leasing, to help smaller businesses across the UK get the finance they need.”
Allan Clegg, Managing Director of Liberty Leasing, said: “The British Business Investments facility is an exciting development for Liberty as we look to support SMEs across the UK with their post pandemic recovery and growth plans. It will provide us with the incremental capital needed to deploy further levels of asset finance into the UK SME market, supporting the growth of the UK economy.”
Notes to Editors
About British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are 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 funding from British Business Investments to Liberty Leasing does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.