Henry Howard Finance has received a second £51m tranche of funding from the British Business Bank, the UK government-owned economic development bank, under the Bank’s ENABLE Funding programme. The transaction is the latest made under the programme, which aims to increase the supply of finance to smaller businesses in the UK looking to acquire business critical assets to boost their growth.
The facility comes on top of an existing £51m asset finance facility granted in 2016 and will allow Henry Howard Finance to extend its leasing and asset finance offering to a larger portfolio of UK smaller businesses.
Mark Catton, CEO at Henry Howard Finance, said, “We are delighted to agree this additional facility with the British Business Bank. We are proud to support SMEs in the next chapters of their business success stories and this facility will allow more companies to grow and prosper.”
Reinald de Monchy, Managing Director of Guarantee & Wholesale Solutions British Business Bank, said, “Our ENABLE Funding programme helps support smaller finance providers who share our goal of increasing the supply of finance to smaller businesses. This increased facility will allow Henry Howard Finance to continue to build on their track record in providing much needed asset finance allowing these types of businesses to realise their growth potential.”
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