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British Business Bank Announces Changes to the Delivery of Start Up Loans in Wales

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The British Business Bank today announces changes to the future delivery of its Start Up Loans programme for businesses in Wales.

From 24 February 2024, working in partnership with Business in Focus as an affiliate of the Start Up Loans programme, the Bank will be providing pre-loan support directly to Welsh businesses.

This initiative brings together Business in Focus’ extensive experience and networks with the Bank’s direct partnerships within the Welsh business support ecosystem. The initiative will combine these relationships with an internal British Business Bank team of Business Advisors who will be dedicated to furthering Wales’ dynamic business economy by supporting and increasing the number of startup businesses accessing early-stage funding.

Where recruitment opportunities for the programme become available, the Bank will seek to draw from a pool of candidates that include Welsh-speaking Business Advisors and Loan Approvers.

Richard Bearman, Managing Director, Small Business Lending at the British Business Bank said,

“I would like to thank Business in Focus for successfully delivering the service in Wales for the past ten years, and am grateful for their support going forward. We are looking forward to building on their work to deliver vital startup capital and support to Welsh businesses through our programme over the coming months.”

Phil Jones, Chief Executive, Business in Focus, said

“In partnership with the British Business Bank and The Start-Up Loans Company, Business in Focus has delivered the Start Up Loans programme in Wales for over 10 years. Over that time, the more than £47.2m loaned to Welsh businesses has helped many to grow, to diversify and to transform their prospects of success. We are now working with the British Business Bank on a re-designed model of delivery – one that matches the changing needs of our client base and is relevant for the next 10 years.

“We are extremely proud of what the Start Up Loans programme has achieved. I would like to thank all the brilliant Business in Focus experts who have delivered this transformational service and the more than 4,600 entrepreneurs who put their faith in us to help them succeed and to release their entrepreneurial potential through the programme.”

Business News Wales