FLA comments on Business Bank’s new asset finance funding vehicle
Commenting on the British Business Bank’s new asset finance funding vehicle, Simon Goldie, Head of Asset Finance at the Finance & Leasing Association (FLA), said:
“The Enable programme will allow small, challenger banks and non-bank lenders to access cost-efficient funding from the capital markets.
“This is great news for the thousands of small businesses that want to finance new equipment to help them grow.
“We are very pleased to have helped in the development of the Enable programme and look forward to continuing to work closely with the British Business Bank.”
The British Business Bank’s Enable Programme is a new scheme designed to increase funding diversification for leasing and asset finance providers with the overall purpose to increase the supply of debt to small and medium sized enterprises (SMEs).
In 2013 FLA members provided £89.0 billion of new finance to UK businesses and households. £22.4 billion of finance was provided to businesses and the public sector. FLA members financed almost 27% of UK investment in machinery, equipment and purchased software in the UK last year.