The British Business Bank (BBB) has lent a total of £5bn through its structured guarantee programmes, ENABLE Guarantee and ENABLE Build, it announced today.
Of this total, over £3bn has been directed to businesses outside London and the South East, with around £500m provided to each of the North West, East Midlands, and East of England regions to support local growth.
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Around £2.3bn has been provided to support the construction and housing sectors.
At the same time, the BBB has hit £350m of lending to the financial services and insurance sectors through its Enable Guarantees programme, with the industries receiving the fourth highest level of support from the programme across all sectors.
More than £100m of that total was provided over the last financial year. A total of 57 smaller businesses in the financial services and insurance sectors have benefitted from lending through programme.
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“Our work with the British Business Bank is one of many levers we are pulling to go further and faster in our mission to deliver economic growth for the entire country and put more money in people’s pockets,” said Rachel Reeves, chancellor of the exchequer.
“This £5bn lending milestone is our plan for change in action, with the programmes delivering much-needed investment to areas outside London and the South East.”
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