The British Business Bank has reached a significant milestone by delivering over £5 billion through its ENABLE structured guarantee programmes since 2017. These programmes, particularly beneficial for small and medium-sized enterprises (SMEs), have provided crucial funding, especially to regions outside London. Chancellor Rachel Reeves emphasized this achievement as an example of their strategy for growth, which focuses on supporting local businesses. ENABLE Build, the construction-focused initiative, has notably contributed to the creation of 5,866 new homes, demonstrating the programme's effectiveness and commitment to long-term economic support.
This £5 billion lending milestone is our Plan for Change in action. It's helping to deliver targeted investment where it's needed most - supporting local businesses, accelerating housebuilding, and putting more money in people's pockets.
It's incredibly rewarding to reflect on the volume of lending to SMEs and the number of homes built that we've helped enable over the years.
The ENABLE programmes are designed to help unlock lending to small and medium-sized enterprises (SMEs) by providing lenders with a government-backed guarantee on defined portfolios of debt.
Participating banks and non-bank financial institutions are incentivised to offer more funding, including to higher-risk but viable businesses, with the guarantee absorbing a portion of the potential losses.
Collection
[
|
...
]