Help to Grow – Growth Loans

Help to Grow logo

The ‘Help to Grow’ growth loans programme addresses the financing needs of smaller businesses which are struggling to raise sufficient senior debt to fund their growth opportunities.

The British Business Bank launched the initial phase of Help to Grow on 22 May 2016, announcing that the first £30m of Help to Grow-supported lending would be delivered to businesses through Lloyds Banking Group. We announced that a second lender, the challenger bank OakNorth, had joined the programme in January 2017. The first investment fund under the programme, with Liverpool-based lender MSIF, was announced in September 2017.

The Help to Grow programme is not currently open to new proposals.

 

Help to grow performance

  • The British Business Bank launched the initial phase of Help to Grow on 22 May 2016, announcing that the first £30m of Help to Grow-supported lending would be delivered to businesses through Lloyds Banking Group.
  • In January 2017 we announced that a second lender, the challenger bank OakNorth, had joined the programme, with a £30m facility. On 14 March, OakNorth completed a £600,000 loan to Notes, the speciality coffee, food and wine company with six sites across central London.
  • The first Help to Grow fund closed (August 17). This £15m fund is a partnership between the British Business Bank and MSIF, a Liverpool based loan and equity provider. It supports established (typically between 3-7 years old), high growth SMEs seeking finance for growth in the Liverpool City Region and across the wider North West. Loans range between £250,000 and £1,000,000.

The business finance guide - English version - guide to finance options The business finance guide - Welsh version - guide to finance options
The English and Welsh language editions of the Business Finance Guide are downloadable from the Guide’s dedicated website. This resource also contains videos and additional content about finance options, including equity finance.