Cambridge & Counties Bank has received £20 million Tier 2 capital facility from British Business Investments, the commercial subsidiary of British Business Bank.

The bank, which primarily lends to allow SMEs to invest in their own commercial premises or acquire essential assets such as machinery or vehicles, said the funding will allow it to increase its volume of lending.

The British Business Bank has worked with Cambridge & Counties Bank since 2018 with a £100m guarantee through the ENABLE Guarantee programme, renewed in March 2023.

“Last year, our loan book passed £1bn for the first time, almost all of which was lent to our valued SME customer base,” said Andrea Hodgson, chief financial officer at Cambridge & Counties Bank. “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.”

Earlier this week, British Business Investments provided Cynergy Bank with £20 million in Tier 2 Capital, supporting Cynergy’s aim of providing over £250 million in lending across the SME and property sectors.

Share Story: