Search British Business Investments
Popular Search placeholder

British Business Investments announces a £15m facility to Performance Finance Limited

Press release 11 April 2024

British Business Investments today announces that it is providing a £15m facility to Performance Finance Limited. The transaction will be structured as a block discounting agreement that will allow Performance Finance to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.

British Business Investments, a wholly owned commercial subsidiary of the British Business Bank, 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. Since it was established in 2014, British Business Investments has committed more than £3.8 billion to providers of finance to UK smaller businesses.

Performance Finance is a leading provider of innovative financial solutions for professionals, including opticians, dentists, solicitors, vets, and surgeons. The company's highly personal approach makes it easy for professionals to access a variety of funding options, including business loans, personal loans, and asset finance. Performance Finance’s direct lending facility has grown significantly since its inception in 2005, from financing just over £380k in its first-year to £55m during 2023.

This £15m facility to Performance Finance Limited supports British Business Investments’ mission to improve access to alternative finance for smaller businesses across the whole of the UK. Independent operators like Performance Finance help diversify the UK’s smaller business finance market and provide more choice for businesses. We look forward to working with Performance Finance to help smaller businesses across the UK get funding for the assets they need to continue their growth. - Adam Kelly Managing Director, British Business Investments
British Business Investments’ belief and investment in Performance Finance will help us continue to provide asset finance for essential optical, dental and veterinarian equipment. - Amanda Smith Finance Director, Performance Finance Limited
I am absolutely delighted British Business Investments have 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. - Stuart Burn Managing Director, Performance Finance Limited

Further information

Notes to editors

About British Business Investments

British Business Investments Ltd is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.

The Bank 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 British Business Bank plc and its subsidiaries 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, the British Business Bank plc or its subsidiaries or any other party in respect of Performance Finance Limited or its products or services.

About Performance Finance Limited

Performance Finance is a leading provider of financial solutions for professionals. 

With a team of passionate individuals and a commitment to innovation, they work hard to ensure clients receive tailor-made finance solutions to suit the requirements of their business. 

Offering exceptional value on equipment finance, asset finance, business, and personal loans. 

Fast and easy credit approvals, eco-friendly digital documentation, and no hidden charges.

An impressive 5-star “excellent” rating on Trust Pilot validates Performance Finance’s commitment to customer excellence. 

Performance Finance continues to demonstrate a commitment to cyber security and environmental sustainability by renewing cyber essentials and carbon-neutral certifications annually. 

Authorised and regulated by the Financial Conduct Authority (FCA)

Latest news