The British Business Bank has agreed a portfolio increase of £75m for specialist commercial lender, DF Capital, to its existing ENABLE Guarantee.
DF Capital was the first lender to utilise the ENABLE Guarantee programme to support inventory finance.
The latest transaction builds on the £175m ENABLE Guarantee announced in January 2023, taking the total facility size to £250m. The specialist form of lending is critical to supply chains, supports the availability of working capital and improves cashflow across product distribution cycles.
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.
DF Capital’s Guarantee commitment could also be further increased to £350m, the Bank indicated, which would support additional finance of around £450m annually.
Head of structured guarantees at the British Business Bank, Michael Strevens, 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.”
DF Capital chief executive, Carl D’Ammassa, added: “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.”
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