British Business Investments has announced a £15m facility to Catfoss Finance Limited (“Catfoss”). The transaction will be structured as a block discounting agreement that will allow Catfoss to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to improve access to alternative finance for smaller businesses across the whole of the UK, while supporting the UK’s transition to a net zero economy. Since it was established in 2014, British Business Investments has committed more than £3.8 billion to providers of finance to UK smaller businesses.

“This £15m facility to Catfoss supports British Business Investments’ mission to improve access to alternative finance for smaller businesses across the whole of the UK,” said Adam Kelly (pictured), Managing Director at British Business Investments.

“Independent operators like Catfoss help diversify the UK’s smaller business finance market, providing more choice. We look forward to working with Catfoss to help smaller businesses get funding for the assets they need to continue their growth journey.”

Catfoss has been providing supportive, individual and practical funding solutions to the UK SME marketplace for more than 20 years. It offers a range of funding products to enable UK businesses to purchase new equipment or release equity from owned assets to help fund growth.

Matthew Tate, Managing Director at Catfoss Finance Limited said: “We are very proud to partner with British Business Investments. This facility enables Catfoss to further increase its lending to the UK SME marketplace and continue to give business the credit it deserves. We know our business and we will get to know our customers, so together we can create a strong, long term partnership.”