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The British Business Bank is a government-owned financial institution. It drives economic growth by making finance markets work better for smaller businesses in the UK, allowing those businesses to prosper and grow. Its aim is to make finance markets work better for small businesses in the UK at all stages of their development: starting up, scaling up and staying ahead. The main goals the British Business Bank wants to achieve are:
Smaller businesses don’t obtain finance directly from the British Business Bank. Instead, It provides finance and apply guarantees through commercial lenders and investors, who use these financial resources – together with their own money – to lend to or invest in smaller UK businesses. The British Business Bank operates right across finance markets, from supporting early-stage equity funding, through the provision of growth capital, to senior debt for established SMEs.
This support covers smaller UK businesses in three broad areas:
During 2017/18, the British Business Bank supported many smaller businesses at all stages (including start-ups) from the national and regional programmes: