The British Business Bank agrees a portfolio increase of £75m to specialist commercial lender

Sheffield headquartered, The British Business Bank has agreed a portfolio increase of £75m to specialist commercial lender DF Capital’s existing ENABLE Guarantee.

This transaction builds on the £175m ENABLE Guarantee announced in January 2023, taking the total facility size to £250m.

DF Capital was the first lender to utilise the ENABLE Guarantee programme to support inventory finance. This specialist form of lending is critical to supply chains, supports the availability of working capital and improves cashflow across product distribution cycles and to date has supported over £275m of finance to dealer businesses.

DF Capital received its banking licence in September 2020. One of the objectives of the British Business Bank is to increase the diversity of supply and type of finance available to smaller businesses. In supporting new market entrants in this way, the Bank can help rapidly build the number of businesses supported and provide more choice across the market.

The Guarantee commitment may be further increased to £350m, which would support additional finance of around £450m annually.

Michael Strevens, head of structured guarantees, British Business Bank, said: “We’re pleased to be able to increase the ENABLE Guarantee portfolio for DF Capital. This strengthens our commitment to inventory finance and to increasing the diversity of supply and type of finance available to smaller businesses”.

Carl D’Ammassa, chief executive, DF Capital commented: “This additional support from the ENABLE Guarantee further strengthens our relationship with the British Business Bank, being a key foundation of our capital strategy, and supports our growth ambitions into 2024.”

By Mark Adair – Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →