Bank commits up to £59m to SME lending fund
The British Business Bank has committed up to £59 million to a Beach Point fund supporting smaller businesses. Planned senior loans will finance growth, expansion and acquisitions across the UK and Ireland.
Issued by British Business Bank, United Kingdom ·
The commitment contributes to the first close of BPC Europe SME DAC, Beach Point’s fourth fund in this lending strategy. It targets companies with annual turnover below £25 million, offering loans from £500,000 to £10 million. The Bank previously invested in earlier funds, and the source describes regional reach including Northern Ireland, Scotland and northern England. The new vehicle is not restricted to a single industry. The announcement reports a fund commitment and lending strategy, not confirmation that every eligible business will receive finance.
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