British Business Investments operates as a commercial subsidiary of the British Business Bank.
Funding Circle plans to use the funds by allocating them to UK-based small businesses via its SME Direct Lending Fund, which was launched in July 2019. The fund aims to give institutional investors access to SME loans. These investors may include pension funds, insurance firms and local authorities.
Funding Circle gained approval and accreditation in April 2020 for lending via the Coronavirus Business Interruption Loan Scheme (CBILS). The SME Direct Lending Fund was approved to expand or diversify its investment strategy by including the option to invest in CBILS loans.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.