British Business Bank hits £5bn ENABLE lending milestone

The British Business Bank has hit a major milestone, with its structured guarantee programmes — ENABLE Guarantees and ENABLE Build — now delivering more than £5 billion in lending to smaller and medium-sized businesses across the UK.

More than £3 billion of this funding has reached firms based outside of London and the South East, reinforcing the government’s ambition to drive regional growth and level up the national economy. Notably, businesses in the North West, East Midlands, and East of England each received around £500 million in support.

The construction and housing sectors have emerged as standout beneficiaries. Through the ENABLE Build programme, approximately £1.2 billion has been channelled to SME housebuilders, contributing to the development of 5,866 new homes. Together, the two sectors have attracted over £2.3 billion in support.

Since its launch in 2017, the ENABLE programme has worked with both bank and non-bank lenders, using government-backed guarantees to unlock additional debt financing for SMEs. Participating lenders are encouraged to back portfolios of loans to viable UK businesses in exchange for a fee, effectively boosting their appetite for risk and capacity for lending.

Chancellor of the Exchequer Rachel Reeves praised the achievement, stating: “Our work with the British Business Bank is one of many levers we are pulling to go further and faster in our mission to deliver economic growth for the entire country and put more money in people’s pockets.

“This £5bn lending milestone is our Plan for Change in action. Not only has this programme delivered much-needed investment to areas outside London and the South East, it has supported the construction and housing sectors to get Britain building again.”

Other industries have also reaped the rewards. The hospitality sector secured over £270 million in funding, while agriculture received upwards of £260 million — reflecting the programme’s breadth in supporting diverse sectors.

Michael Strevens, Managing Director of Structured Financial Institutions at the British Business Bank, highlighted the milestone’s significance:

“It’s incredibly rewarding to reflect on the volume of lending to smaller and medium-sized businesses and the number of homes built that we’ve helped enable over the years.

“Looking ahead, we’re focused on being more proactive — working closely with lenders to understand their challenges and tailor solutions that fit. That’s how we’ll unlock the next £5bn — and do so with greater pace and purpose.”

Lenders partnering with the British Business Bank have played a key role in the programme’s success. United Trust Bank (UTB), which helped shape the ENABLE Guarantee’s design for the housebuilding sector, has surpassed £1 billion of ENABLE-backed lending and supported the development of around 4,700 new homes.

Adam Bovingdon, UTB’s Head of Property Development, said: “ENABLE is an excellent example of successful state and private sector cooperation.

“Bearing in mind that during this period lenders and housebuilders have also had to contend with the Covid-19 pandemic and considerable economic and political volatility, it’s clear just how important this support has been.”

ThinCats, a leading alternative lender to mid-sized SMEs, also underscored the programme’s value. Managing Director Ravi Anand noted: “The ENABLE Guarantees programme has been a huge contribution to the £1bn of funding we have undertaken post-COVID. The scheme ‘does what it says on the tin’— enabling senior bank appetite to allow ThinCats to fund growth initiatives of UK mid-sized SMEs and in turn enabling a positive contribution to UK GDP”.

Brian Berry, Chief Executive of the Federation of Master Builders, added: “It’s positive to see that small housebuilders have taken advantage of ENABLE schemes. Financing is one of the top issues holding back small developers from building new homes. The ENABLE Build scheme helps aid diversification of the UK’s housing market, which is essential to deliver the Government’s ambition of 1.5 million new homes.”

Sectors	Number of SMEs	Value of Flow
A – AGRICULTURE, FORESTRY AND FISHING	308	£269.76M
B – MINING AND QUARRYING	5	£6.23M
C – MANUFACTURING	231	£148.33M
D – ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY	Redacted	£0.92M
E – WATER SUPPLY; SEWERAGE, WASTE MANAGEMENT AND REMEDIATION ACTIVITIES	12	£12.36M
F – CONSTRUCTION	699	£1708.94M
G – WHOLESALE AND RETAIL TRADE; REPAIR OF MOTOR VEHICLES AND MOTORCYCLES	513	£800.78M
H – TRANSPORTATION AND STORAGE	75	£50.26M
I – ACCOMMODATION AND FOOD SERVICE ACTIVITIES	210	£273.89M
J – INFORMATION AND COMMUNICATION	15	£73.61M
K – FINANCIAL AND INSURANCE ACTIVITIES	57	£367.7M
L – REAL ESTATE ACTIVITIES	349	£655.23M
M – PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES	50	£128.78M
N – ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES	117	£245.63M
P – EDUCATION	7	£6.85M
Q – HUMAN HEALTH AND SOCIAL WORK ACTIVITIES	41	£165.57M
R – ARTS, ENTERTAINMENT AND RECREATION	11	£14.44M
S – OTHER SERVICE ACTIVITIES	20	£34.74M
U – ACTIVITIES OF EXTRATERRITORIAL ORGANISATIONS AND BODIES	7	£22.25M
Unallocated	302	£162.99M

Regions	Number of SMEs	Value of flow
North East	110	£172.58M
North West	289	£544.08M
Yorkshire and the Humber	274	£348.61M
East Midlands	273	£516.5M
West Midlands	264	£388.75M
East England	330	£561.44M
London	365	£1094.03M
South East	427	£832.35M
South West	273	£401.21M
Wales	177	£155.95M
Scotland	151	£217.17M
Northern Ireland	30	£32.34M