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|Hitachi Capital and The British Business Bank agree £100m facility to increase asset finance|
|Friday, 02 October 2015|
The British Business Bank today agreed to provide a £100m facility to
Hitachi Capital UK to fund a portfolio of newly originated small
business asset finance receivables. The transaction is the first of the
British Business Bank’s innovative new ENABLE Funding programme, which
aims to increase significantly the supply of leasing and asset finance
to smaller businesses in the UK. The European Investment Fund will
guarantee 50% of the facility.
Gavin Wraith-Carter, General Manager, Hitachi Capital Business Finance said: “Being the first funder to take part in an ENABLE funding programme transaction reinforces our commitment to understanding the specific needs of SMEs and offering tailored financial solutions that fit their business requirements. As a leading provider of business asset finance, we offer SMEs a valuable alternative to mainstream lending, allowing businesses to free up cash flow and to budget appropriately for the equipment they need to remain competitive. This initiative is a fantastic example of how Hitachi Capital looks at new and fresh ways to generate increased use of alternative lending to UK SMEs.”
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