Latest news with #ENABLEBuild
Yahoo
3 days ago
- Business
- Yahoo
British Business Bank names Julia Bond as nonexecutive director
The British Business Bank has appointed Julia Bond as nonexecutive board director and chair of its remuneration committee. Her appointment as board director was effective from 19 May, and she will assume the role of chair of the remuneration committee from 1 July, the bank said in its press statement. Bond has extensive experience in global finance, public service, and long-term investment. She currently holds nonexecutive positions at Impax Asset Management, International Public Partnerships, UK Strategic Command, and the Foreign, Commonwealth and Development Office. British Business Bank chair Stephen Welton said: 'Julia brings with her a great deal of capability and experience in both the private and public sector, and I am pleased to welcome her onto the board of the British Business Bank. 'She joins at a pivotal time for the bank, at which we are set to play an even bigger role in shaping the future of the UK economy as a major catalyst to drive growth and access to finance, whilst helping to crowd in greater institutional investment.' Bond was previously a senior executive at Credit Suisse, where she led global fixed-income businesses and managed relationships with sovereign wealth funds, central banks, and institutional investors across Europe, Asia, and the Americas. She has also served as a nonexecutive director for the National Health Service, European Assets Trust, and ACCA, where she chaired multiple board committees, including those focused on audit, remuneration, environmental, social, and governance, and risk. Commenting on the new role, Bond said: 'The British Business Bank occupies a practically unique position as a UK public sector organisation which operates in commercial finance markets, and I look forward to bringing my knowledge and expertise in each of those sectors to my new role. 'I am delighted to be joining the bank at an exciting time for the organisation, as it significantly expands the scope of its activities.' Recently, the British Business Bank reached £5bn ($4.08bn) in lending through its ENABLE structured guarantee programmes. These programmes, including ENABLE Guarantees and ENABLE Build, have delivered more than £3bn to businesses outside London and the South East of England, supporting small and medium-sized enterprises across the UK, the bank said. "British Business Bank names Julia Bond as nonexecutive director" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business News Wales
4 days ago
- Business
- Business News Wales
British Business Bank Reaches £5bn Lending Milestone for Structured Guarantee Programmes
The British Business Bank has reached the landmark milestone of £5 billion of lending across its structured guarantee programmes, ENABLE Guarantees and ENABLE Build. More than £3 billion has been delivered to businesses outside London and the South East. A total of £155.95 million has been provided in Wales. The ENABLE Guarantees programme is designed to encourage additional lending to smaller and medium-sized businesses. Participating institutions are incentivised by a government-backed guarantee to support defined portfolios of debt finance in return for a fee. Smaller and medium-sized businesses across the UK have benefited significantly from the programme, British Business Bank said. The structured guarantee programmes have provided more than £2.3 billion of support to the construction and housing sectors, including around £1.2 billion under ENABLE Build. Other notable sectors benefiting include hospitality, with more than £270 million, and agriculture, with more than £260 million. Since the first transaction in 2017, these structured guarantee programmes have supported both bank and non-bank financial institutions to unlock more lending to smaller and medium-sized businesses. The ENABLE Guarantees programme is open to all UK banks, UK branches of foreign banks, asset and asset-based finance providers as well as certain other categories of lenders which lend, or intend to lend, to viable small and medium-sized enterprises operating in the UK. The ENABLE Build programme operates in a similar manner to the ENABLE Guarantees programme, but is focused on encouraging additional lending to smaller and medium-sized housebuilders in the UK. Michael Strevens, Managing Director, Structured Financial Institutions, British Business Bank, said: 'It's incredibly rewarding to reflect on the volume of lending to smaller and medium-sized businesses and the number of homes built that we've helped enable over the years. Our focus has always been on evolving our support to strengthen UK businesses, and it's encouraging to see those efforts bearing fruit. Looking ahead, we're focused on being more proactive — working closely with lenders to understand their challenges and tailor solutions that fit. That's how we'll unlock the next £5 billion — and do so with greater pace and purpose.' Adam Bovingdon, Head of Property Development, United Trust Bank (UTB), said: 'UTB helped the British Business Bank develop its ENABLE Guarantees programme to be suitable for supporting housebuilding and was the first lender to take advantage of it when it was made available to the sector in 2017. We subsequently signed up to ENABLE Build and I am delighted to say that earlier this year UTB surpassed £1 billion of ENABLE guaranteed lending across both schemes, delivering nearly 450 loan facilities to SME housebuilders and supporting the creation of around 4,700 new homes. Bearing in mind that during this period lenders and housebuilders have also had to contend with the Covid-19 pandemic and considerable economic and political volatility, it's clear just how important this support has been. ENABLE is an excellent example of successful state and private sector cooperation.' Ravi Anand, Managing Director of ThinCats, said: 'The British Business Bank's ENABLE Guarantees programme has been a huge contribution to the £1 billion of funding we have undertaken post COVID. The scheme 'does what it says on the tin'— enabling senior bank appetite to allow ThinCats to fund growth initiatives of UK mid-sized SMEs and in turn enabling a positive contribution to UK GDP.' Brian Berry, Chief Executive of the Federation of Master Builders (FMB), said: 'It's positive to see that small housebuilders have taken advantage of ENABLE schemes. Financing is one of the top issues holding back small developers from building new homes and the more finance options there are the better. The ENABLE Build scheme helps aid diversification of the UK's housing market, which is essential to deliver the Government's ambition of 1.5 million new homes.'
Yahoo
4 days ago
- Business
- Yahoo
British Business Bank hits £5bn in structured guarantee programmes
The British Business Bank has reached £5bn in lending through its ENABLE structured guarantee programmes. These programmes, including ENABLE Guarantees and ENABLE Build, have delivered more than £3bn to businesses outside London and the South East, supporting smaller and medium-sized enterprises (SMEs) across the UK, the bank said. A total of £500m has been allocated to each of the North West, East Midlands and East of England regions. The ENABLE Guarantees programme is designed to encourage additional lending to SMEs by providing a government-backed guarantee to participating institutions, which support defined portfolios of debt finance in return for a fee. The structured guarantee programmes provided more than £2.3bn of support to the construction and housing sectors, including approximately £1.2bn under ENABLE Build. Other sectors such as hospitality and agriculture have also benefitted, receiving more than £270m and £260m, respectively. Since the first transaction in 2017, these programmes have enabled both bank and non-bank financial institutions to increase lending to SMEs. The ENABLE Guarantees programme is open to all UK banks, UK branches of foreign banks, asset and asset-based finance providers, and certain other lenders that lend to viable SMEs in the UK. The ENABLE Build programme operates similarly to ENABLE Guarantees but focuses on encouraging additional lending to smaller and medium-sized housebuilders in the UK. British Business Bank Structured Financial Institutions managing director Michael Strevens said: 'It is incredibly rewarding to reflect on the volume of lending to smaller and medium-sized businesses and the number of homes built that we have helped enable over the years. 'Our focus has always been on evolving our support to strengthen UK businesses, and it is encouraging to see those efforts bearing fruit. Looking ahead, we are focused on being more proactive – working closely with lenders to understand their challenges and tailor solutions that fit. That is how we will unlock the next £5bn – and do so with greater pace and purpose.' "British Business Bank hits £5bn in structured guarantee programmes" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
US tariffs prompt BBB to expand Growth Guarantee Scheme
The Chancellor has announced an additional £500 million in lending capacity under the Growth Guarantee Scheme (GGS) to support smaller UK businesses dealing with cashflow difficulties linked to recent changes in global tariff rates. Delivered through the British Business Bank (BBB) and around 50 accredited lenders, the scheme has already enabled £2.1 billion in finance via 13,447 facilities. The new funding will be channelled into term loans, overdrafts and similar financial products to support smaller businesses affected by global trade disruptions. The scheme offers facilities of up to £2 million per business group for firms outside the scope of the Northern Ireland Protocol, and up to £1 million for businesses within it. Each facility is backed by a 70% government guarantee, though borrowers remain fully liable for the debt. Businesses must demonstrate they can afford the additional finance, which can be used for a range of purposes including working capital and cashflow management. Lenders retain discretion over loan approvals and will apply their usual credit and fraud checks. Interest rates and fees will vary based on the specific terms offered by each lender and will reflect the benefit of the government-backed guarantee. Reinald de Monchy, Co-Chief Banking Officer at the British Business Bank, stated that the scheme has historically supported smaller firms during periods of economic uncertainty and that the new funding would help maintain access to finance at a time of global market disruption. The additional capacity follows the Autumn Budget 2024, in which the government confirmed more than £1 billion in funding for the British Business Bank's initiatives through 2025/26. This included continued support for Start Up Loans, the ENABLE Build programme for smaller housebuilders, and equity programmes targeted at high-growth sectors such as life sciences. Information about accredited lenders is available on the British Business Bank website. Businesses are encouraged to first contact their current finance provider or explore alternative lenders if necessary. "US tariffs prompt BBB to expand Growth Guarantee Scheme" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
