The British Business Bank has increased its facility with Performance Finance Limited to a maximum of £30m. That follows the original £15m transaction completed in April 2024.
The increased facility will support Performance Finance’s development and allow it to grow its lending, passing on the benefit of cheaper funding and lower management costs to customers.
Michael Strevens, managing director of structured financial institutions solutions at the British Business Bank, said: “This increased facility with Performance Finance Limited recognises the important role specialist lenders play in ensuring smaller businesses can access the right type of finance at the right time. Performance Finance’s roots in professional services lending means it is well placed to support professional services businesses across the country. We enjoy working with a lender whose sector expertise makes a meaningful difference to their customers.”
Stuart Burn, managing director at Performance Finance, said: “We are delighted that the British Business Bank have increased their facility with us. They have been a great support to the growth of Performance Finance over many years and more importantly help provide UK Professionals with access to flexible competitive funding. Our relationship goes from strength to strength.”
