The British Enterprise Financial institution (BBB) has lent a complete of £5bn by means of its structured assure programmes, ENABLE Assure and ENABLE Construct, it introduced in the present day.
Of this whole, over £3bn has been directed to companies exterior London and the South East, with round £500m supplied to every of the North West, East Midlands, and East of England areas to assist native progress.
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Round £2.3bn has been supplied to assist the development and housing sectors.
On the identical time, the BBB has hit £350m of lending to the monetary providers and insurance coverage sectors by means of its Allow Ensures programme, with the industries receiving the fourth highest stage of assist from the programme throughout all sectors.
Greater than £100m of that whole was supplied during the last monetary 12 months. A complete of 57 smaller companies within the monetary providers and insurance coverage sectors have benefitted from lending by means of programme.
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“Our work with the British Enterprise Financial institution is considered one of many levers we’re pulling to go additional and quicker in our mission to ship financial progress for the whole nation and put extra money in individuals’s pockets,” mentioned Rachel Reeves, chancellor of the exchequer.
“This £5bn lending milestone is our plan for change in motion, with the programmes delivering much-needed funding to areas exterior London and the South East.”
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