British Business Investments is providing Praetura Group’s Kingsway Finance with a £10m block discounting funding facility.
The finance provider will use British Business Investment’s capital to offer more loans to UK SMEs. It issues SMEs with loans from £5,000 up to £25m.
Peadar O’Reilly, CEO of Praetura Group’s lending division, said: “SMEs need funding on the right terms and at the right time, delivered by lenders who will ensure the needs of each individual business are prioritised.”
In 2022 the lending division had over £330m in loans on its balance sheet, according to Praetura Group.
https://www.uktech.news/funding/bank-finance/kingsway-finance-10m-20230504