SME fund secures £20m boost

The British Business Bank Investments Ltd has increased its commitment to an SME investment fund by £20m.

The commercial arm of the British Business Bank (BBB) has backed BOOST&Co’s Industrial Lending 1 fund.

The fund provides venture debt loans of between £2m-8m to innovative companies looking to scale-up with the loans available to early-stage technology start-ups.

BOOST&Co’s Industrial Lending 1 fund has made total commitments of £100m, investing in 33 UK-based SMEs.

The funding boost from the BBB means that the fund can make up to £100m of further commitments to SMEs.

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