Performance Finance received a £15m facility from British Business Investments to provide funding for smaller businesses looking to acquire business-critical assets to accelerate their growth.
During 2023, Performance Finance provided business loans, personal loans and asset finance totalling £55m to a range of professionals including opticians, dentists, solicitors, vets and surgeons.
British Business Investments, a commercial subsidiary of the British Business Bank, has committed more than £3.8bn to providers of finance to UK smaller businesses since its inception in 2014.
Stuart Burn, managing director of Performance Finance said: ‘I am absolutely delighted British Business Investments has supported Performance Finance with a £15m block discounting facility.
‘This will help us increase our funding to professionally qualified SME’s that are keen to grow and provide vital services within their communities.’