Kingsway Finance, part of Praetura Group’s lending division, has announced a new £10m block discounting funding facility from British Business Investments.

According to the British Business Bank’s Small Business Finance Markets Report, access to finance is one of the most significant challenges smaller businesses face in developing and expanding their business.

This new £10m facility from British Business Investments will enable Kingsway Finance to increase its funding capacity to small and medium-sized businesses across the UK.

This news follows record figures across the whole of the Praetura Lending Division in 2022, for the second consecutive year. The division’s combined loan book has grown to more than £330m, with ambitions to increase that significantly in 2023.

Kingsway Finance also announced its formal accreditation as a lender for the new iteration of the government-backed Recovery Loan Scheme (RLS) by the British Business Bank in February this year.

Based in the North-West, Praetura Group’s lending division, which includes Praetura Asset Finance, Kingsway Finance, Praetura Commercial Finance, Praetura Invoice Finance and Zodeq, supports clients across several industry sectors with a range of SME funding solutions ranging from £5,000 to £25m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers.

Since it was established in 2014, British Business Investments has committed more than £3.3 billion to providers of finance to UK smaller businesses.

Paul Bradbury, commercial director of Kingsway Finance, said: “Over recent years at Kingsway Finance we have seen the range of businesses our funding has been able to assist significantly increase. This new funding facility from British Business Investments will enable that trajectory to continue, so that more brokers and their SME clients can benefit not only from the funding we offer, but the exemplary service levels that we pride ourselves on providing.”

Peadar O’Reilly, CEO of Praetura Group’s lending division, said: “SMEs need funding on the right terms and at the right time, delivered by lenders who will ensure the needs of each individual business are prioritised. This new facility with British Business Investments will help more brokers, advisers and their SME clients fulfil their potential.

Judith Hartley, CEO, British Business Investments, said: “This £10m block discounting agreement with Kingsway Finance supports British Business Investments’ mission to increase the diversity and supply of finance for smaller businesses in the UK. Independent operators like Kingsway Finance help diversify the UK’s smaller business finance markets and provide more choices for businesses.

“We look forward to continuing to work with Kingsway to help smaller businesses across the UK get funding for the assets they need to grow.”

365 Business Finance sees 150% increase in funding for London SMEs