Funds raised from the facility will enable Cambridge & Counties Bank to increase its volume of lending to smaller businesses.

This is part of British Business Investments’ strategy to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of multiple finance providers. 

The British Business Bank has been supporting Cambridge & Counties Bank since 2018, having agreed a £100m ENABLE Guarantee which was renewed in March this year.

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Andrea Hodgson, chief financial officer at Cambridge & Counties Bank (pictured above), said: “When we were established in 2012, our aim was to create a responsible and competitive lender which had all the hallmarks of a traditional, customer-centric bank but one combined with the speed, efficiency, and innovation of a contemporary and agile institution.

“We greatly value our long-standing relationship with the British Business Bank and are grateful to it for its latest investment in our new Tier 2 issuance programme. 

“As we progressively draw down on this, we will deploy the additional regulatory capital to further support our UK SME client base with their own financing and growth ambitions.”

Judith Hartley, CEO at British Business Investments, stated that this facility supported the institution’s mission and would help more smaller businesses across the UK access the capital they need to grow.