The British Business Bank has extended its facility with Kent based lender, Compass Business Finance, to up to £45m.
This latest transaction follows an initial £15m commitment in 2020 which was increased to £30m in 2022.

Compass is an independent asset finance funder and broker, providing finance leases, hire purchase and business loan facilities to smaller businesses across the UK. Since being established in 2005, Compass has helped thousands of businesses invest in equipment and technology to support growth, productivity and innovation.

The facility will support Compass’ development as the lender continues to grow its loan book and support more small businesses across the country.

The British Business Bank partners with the private sector to increase the supply and variety of debt finance so that more smaller businesses across the UK can start, grow and thrive.

This transaction is delivered under the Bank’s Investment Programme, which promotes competition and increased supply through new finance providers or products, and ultimately increases the provision of finance to viable but underserved businesses.

One way in which the Investment Programme achieves this is by investing on commercial terms in participating institutions’ senior, mezzanine, unitranche and subordinated debt instruments. The Investment Programme is open to all finance providers that lend, or intend to lend, to viable UK smaller businesses.

Since 2020 Compass has also participated in the British Business Bank’s Growth Guarantee Scheme (GGS) and the Bank’s Investment Programme to increase lending to smaller businesses.



Michael Strevens, Managing Director, Structured Financial Institutions Solutions, British Business Bank, said: “Completing this transaction with Compass Business Finance represents an important step in strengthening the flow of finance to smaller businesses across the country.

“This partnership will support more businesses to invest, grow and build resilience. Through this, we can ensure that smaller firms across all regions have access to the finance they need to drive productivity and contribute to a thriving local economy.”



Mark Nelson, Co-Founder and Director, Compass Business Finance, said: “We are delighted to further strengthen our relationship with the British Business Bank. This is a significant facility that will increase our ability to support SMEs across the UK, enabling more businesses to access the funding they need to invest, grow and achieve their ambitions. It is an important step in supporting our continued growth while maintaining the service and flexibility our customers value.”

www.compassbusinessfinance.co.uk