British Business Bank announces facility of up to £20m with BFS Marine Finance

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank’s core programmes support over £17.4bn ^{Read footnote text 1}  of finance to almost 64,000 ^{Read footnote text 2}  smaller businesses.

As well as increasing the supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of finance options available to smaller businesses. The British Business Bank Finance Hub provides independent and impartial information to businesses about finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.

The British Business Bank is also responsible for administering the government’s three Coronavirus loan schemes and its Future Fund, together responsible for delivering £80.4bn in finance to 1.67m businesses. These schemes are now closed to new applications.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. Wholly owned by HM government, the Bank and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). BBB Patient Capital Advisory Services Limited is an appointed representative of Langham Hall Fund Management LLP, which is authorised and regulated by the Financial Conduct Authority of the UK. A complete legal structure chart for the group and details of each subsidiary and the programme(s) it operates (where applicable) can be found at British Business Bank.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, British Business Bank plc or its subsidiaries or any other party in respect of BFS Marine Finance or its products or services.

About Bibby Financial Services

Bibby Financial Services (BFS) is a leading independent financial services partner to over 8,500 SMEs worldwide.

We provide specialist working capital, asset finance and foreign exchange solutions helping businesses to grow and thrive in domestic and international markets.

Formed in 1982, BFS is part of the Bibby Line Group (BLG), a diverse and forward-looking family business delivering personal, responsive and flexible customer solutions for over 200 years.

BFS Marine Finance provides specialist financing and support to the sector across a wide range of vessel types, including wind farm service vessels, general purpose workboats, passenger vessels and ferries, survey vessels, tugs and barges, coastal ships, charter boats and hire boat fleets. To find out more about Bibby Financial Services, visit Bibby Financial Services.

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  Figures as at end March 2024

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  Figures as at end March 2024