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British Business Investments announces a new £25m facility to Shire

Press release 11 February 2025

British Business Investments has agreed a new facility to Shire (Shire Leasing plc and Shire Securities Ltd) to enable an increased flow of asset finance solutions to UK smaller businesses.

The facility, made from the Structured Financial Institutions Solutions variant of the Bank’s Investment Programme amounts to £25m of block discounting funding. It will enable the Tamworth-based specialist lender to provide additional finance to UK smaller businesses for business-critical asset acquisition across the agriculture, business services, manufacturing and construction sectors.

Shire Leasing plc is an established independent finance provider with a long-standing track record of lending to UK smaller businesses.

The British Business Bank has had a successful operating relationship with Shire Leasing plc for over a decade. During this time, Shire has seen a significant transformation of its own book portfolio, growing from c.£50m ten years ago to over £225m today.

As Shire moves into its next development phase with the acquisition of Shire Securities Ltd, a commercial finance broker and provider of loans and cash flow solutions, it presents the opportunity of generating further growth in lending to UK smaller businesses.

Jonathan Marriott, Senior Director, Structured Financial Institutions Solutions, British Business Bank, said:

We are pleased to be continuing the Bank's support for independent operators in the asset finance sector on a truly national basis with this investment into the Shire group of companies. The use of our block discounting model has proved to be an effective way of providing valuable additional funding by widening the choice of finance options that smaller businesses across the UK can access. We look forward to working with Shire over the coming years to help those businesses get the finance they need.

Helen Lumb, Managing Director at Shire said:

Our ongoing partnership with the British Business Bank continues to strengthen our ability to support UK SMEs. This new funding commitment is a testament to our shared vision of making finance more accessible to businesses across various sectors. As we move forward with the acquisition of Shire Securities Ltd, we are poised to further expand our lending capabilities. This development phase represents a significant opportunity for us to enhance our support for smaller businesses, helping them secure the finance needed to grow and succeed in today's competitive market.

Notes to editors

About British Business Investments

British Business Investments Limited is a wholly owned commercial subsidiary of British Business Bank plc the UK government’s economic development bank. British Business Investments aims to improve access to alternative finance for smaller businesses across the whole of the UK, while supporting the UK’s transition to a net zero economy and generating a return for the UK taxpayer. Find out more at British Business Investments. 

British Business Investments Limited is registered in England and Wales with company number 09091930, and registered office at Steel City House, West Street, Sheffield, S1 2GQ. British Business Bank plc is owned by HM Government and is registered in England and Wales with company number 08616013, and registered office at Steel City House, West Street, Sheffield, S1 2GQ.

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for the group can be found on the British Business Bank plc website.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, British Business Bank plc or its subsidiaries or any other party in respect of Shire or its products or services.

About Shire Leasing PLC

Shire Leasing offer asset finance and equipment leasing solutions to UK businesses. As an independent B2B funder, Shire offer competitive rates and can tailor finance solutions to individual business requirements. Our solutions range from finance lease and hire purchase, through to re-finance and business loans. Shire Leasing also work directly with equipment suppliers and vendors, offering their B2B customers budget-friendly finance options at point of sale.

Shire Leasing PLC is Authorised and Regulated by the Financial Conduct Authority for certain types of consumer credit lending and credit related activities that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. For certain types of products Shire act as a lender and a broker and for some products we act as a broker only. Our firm reference number is 313055.

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