01827 68939
info@shireleasing.co.uk
lockShire Online - Login
Twitter
LinkedIn
Shire Leasing logoShire Leasing white logo
  • About Us
    • History, Vision & Values
    • Meet the Team
    • Affiliations
    • Corporate Social Responsibility
    • Stakeholders (Section 172 Statement)
    • Career Opportunities
    • SME Finance Charter
  • Customer Finance
    • Types and Solutions
    • Vehicle Finance
      • Shire Vehicle Solutions
      • Clean Air Zone Financial Assistance
        • Bath
        • Bristol
        • Greater Manchester
        • Newcastle
        • Sheffield
    • What Can Be Financed?
      • Catering | Restaurant Equipment Leasing & Finance
      • Gym Equipment Leasing & Finance
      • IT Equipment Leasing & Finance
      • Printing Equipment Leasing & Finance
      • Security Equipment Leasing & Finance
      • Air Conditioning Equipment Leasing & Finance
      • Agricultural Finance & Farm Finance
        • Tractor Finance
        • Dairy Cow & Livestock Finance
        • Agricultural Equipment Financing
        • Farm Diversification Funding
      • Renewable Energy Finance
    • Recovery Loan Scheme (RLS)
    • New Business Equipment Financing
    • Shire Members’ Club
    • Make a Payment
    • Testimonials / Case Studies
  • Supplier Finance
    • Services and Technology
    • Industry Specialisms
      • Green Asset Vendor Finance
    • Training (Lead with Lease)
    • Supplier Support Portal
  • Blog
  • Resources
    • Resources & Guides
    • Videos
    • FAQs
    • Industry Terminology
  • Contact Us

British Business Bank increases Shire Leasing’s total ENABLE Funding commitment to £99.8m with second facility

19 AugShire LeasingBusiness Funding, Press ReleaseNo Comments

The British Business Bank today announces a further £62.4m of financing to Shire Leasing under its ENABLE Funding programme, which aims to improve the supply of finance solutions to smaller UK businesses for business–critical assets.

The transaction follows on from a first round of funding of £37.4m in 2017 – bringing the overall amount of money under the ENABLE Funding programme awarded to £99.8m.

Alongside £6.6m of mezzanine funding provided in 2017 by British Business Investments, a commercial subsidiary of the Bank, it brings the total support provided to Shire to £106.4m.

The financing will aid Shire Leasing in delivering in excess of £150m to help smaller businesses with cash flow, recovery, growth, and investment plans.

Launched in 2014, the ENABLE Funding programme supports the Bank’s objective to diversify finance markets for smaller UK businesses. Providers of finance to SMEs often lack the scale required to access capital markets – a key source of funding for lending institutions – in a cost-efficient manner. The ENABLE Funding programme warehouses newly-originated finance receivables from different originators, bringing them together into a new structure. Once the structure has sufficient scale, it will refinance a portion of its funding on the capital markets, helping small finance providers to tap into institutional investors’ funds.

Helen Lumb, Chief Financial Officer of Shire Leasing, said: “Our partnership with British Business Bank allows us to grow and diversify our funding base. Our journey to achieve this increased facility shows, even during times of calamity, that Shire are continuously working with our strategic partners to make alternative lines of finance more readily available for businesses.

“This latest credit line under the ENABLE Funding programme comes at a vital time for our economy, enhancing our ability to support UK SMEs across all business sectors in accessing the finance required to recover, thrive, and grow affordably.”

By utilising the ENABLE Funding, Shire has been able to expand into new markets and deliver finance solutions through non-conventional methods. In 2020, Shire Leasing was appointed as a funder on the UK’s first Clean Air Zone (CAZ) Financial Assistance Scheme, providing businesses impacted by the Bath and North East Somerset Council CAZ with direct financial support in the form of grants and/or interest-free financing to accelerate investment in low/no emission vehicles. Since funding the first vehicle on the scheme in January 2021, Shire continues to place CAZ agreements on its own book, with the majority of these secured by the ENABLE Funding programme.

Reinald de Monchy, Managing Director, Guarantee and Wholesale Solutions of the British Business Bank, said: “Smaller businesses in the UK are affected by a funding gap as many traditional providers provide cost efficient financing to only a relatively small percentage of firms. By partnering with alternative and non-bank lenders, like Shire Leasing, we can give smaller UK businesses access to the asset and lease finance they need. The Bank remains committed to its objective to create a more diverse finance market, and we look forward to continuing to work with Shire Leasing and other non-banks to help provide even more funding options to smaller businesses across the UK.”

Discover the business finance solutions available from Shire Leasing.

prev Clean Air Day 2021: A reflection on Shire Leasing’s growing commitment to environmental improvement next Shire Leasing commit to planting a tree for every new lease
Shire Leasing

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Quick Links

  • FAQs
  • Career Opportunities
  • Terms & Conditions
  • Privacy Policy
  • Fair Processing Notice
  • Make a Complaint

Get in Touch

Registered Office:
1 Calico Business Park
Sandy Way
Tamworth
Staffordshire
B77 4BF
CONTACT US

Shire Leasing PLC is Authorised and Regulated by the Financial Conduct Authority for certain types of consumer credit lending and credit related activities that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. For certain types of products Shire act as a lender and a broker and for some products we act as a broker only. Our firm reference number is 313055.

Twitter
LinkedIn

 

Tel: 01827 68939
Email: info@shireleasing.co.uk

Registered in England and Wales
No02476571

VAT registered 558 894 080

Registered with the Information Commissioners Office Z4611407

HomeAbout UsBlogContact Us
© 2017 All rights reserved. Site by Catalyst
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
SAVE & ACCEPT