British Business Investments commits additional £15 million to Compass Business Finance
Press release
British Business Investments, a commercial subsidiary of the British Business Bank, today announces an additional £15 million commitment to Compass Business Finance, taking our total commitment to £30 million. This additional investment will further increase the flow of funding for asset finance products into UK-based smaller businesses operating in the print, packaging and manufacturing sectors.
It will also provide this specialist lender with additional funding for smaller and medium-sized businesses requiring business critical equipment finance over the next three to five years and contribute to Compass Business Finance’s own growth trajectory whilst supporting underserved businesses as they recover from the Covid-19 pandemic.
British Business Investments continues to support independent operators in the asset finance sector. This increased commitment to Compass Business Finance Ltd helps to diversify the finance market and provide more choice for companies across the UK. We are happy to continue working with Compass Business Finance Ltd over the next five years, to help those UK companies get the finance they need. Judith Hartley CEO, British Business Investments
The increased commitment from British Business Investments will enable us to further support the demand for funding across our core markets. It is encouraging to see businesses seeking finance for investment and growth, and to continue our provision of funding support in a simple and straight-forward manner. Mark Nelson Director, Compass Business Finance
Further Information
Notes to editors
About the 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 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.
British Business Bank plc 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 funding from British Business Investments to Compass Business Finance does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.
About Compass Business Finance
Compass Business Finance is an independent company specialising in the provision of industry, professions and renewables finance, focussing primarily on asset-based finance for the print, packaging and engineering sectors. Compass have seen year-on-year growth since they were established in 2005, by brothers, Mark and Jamie Nelson. David Bunker joined the company as a director in April 2019.
Compass Business Finance is a member of the Finance and Leasing Association.
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