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ASSET FINANCE PROVIDER BOOSTED BY £16.5M FACILITY

A Wilmslow-headquartered asset finance provider has been boosted by a £16.5m revolving credit facility from British Business Bank Investments.

The deal is expected to increase Kingsway’s leasing capacity by up to £25m, supporting investment in plant and machinery across the UK.

It represents British Business Bank Investments’ first facility under its new expansion capital initiative, which supports finance providers that lend to smaller businesses. The initiative is intended to help it support the development of diverse debt finance markets more effectively.

Under the initiative, British Business Bank Investments can make investments as sole investor without the need for its investments to be match-funded. This unlocks increased development capital to speciality lenders serving smaller businesses, provided that the lenders can demonstrate the funding will leverage additional lending or otherwise be assessed as having a strong fit with the investment programme’s overall aims.

Adrian Anthon, managing director of Kingsway, said: “I am delighted that Kingsway is the first UK asset finance company to benefit from the British Business Bank Investments’ new expansion capital initiative. Read More