£30M Funding Commitment Unveiled To Support SMEs
- On November 11, 2020
- By GrowthInvest Marketing
British Business Investments has provided a £30m commitment to support UK small businesses through Funding Circle’s UK SME Direct Lending Fund.
The UK SME Direct Lending Fund, which launched and began lending in July 2019, gives institutional investors, including pension funds, insurance companies and local authorities, the opportunity to lend directly to a diversified portfolio of SMEs originated by the Funding Circle business loans platform.
Following Funding Circle’s accreditation to lend under the Coronavirus Business Interruption Loan Scheme (CBILS) in April 2020, the fund was subsequently given approval to expand its investment strategy to include investing in CBILS loans.
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