Business Bank launched
The first stage in the creation of a UK business bank has recently taken place with the government announcing that £300m will be invested in the scheme. This first ‘deposit’ forms part of the £1bn total that has been earmarked for the scheme that is designed to provide finance to small and medium-sized enterprises (SMEs).
Although the bank will not be operational until next year it is expected that the first transactions will take place by the autumn and that the government want to provide support for SMEs as soon as possible.
If you would like more information, please contact our corporate team.