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British Business Investments announces £7m commitment to FOLK2FOLK

British Business Investments, a wholly-owned commercial subsidiary within the British Business Bank group, today announces a £7m commitment to FOLK2FOLK, a specialist marketplace lender for rural and regional smaller businesses.

British Business Investments aims to increase the supply and diversity of finance for smaller businesses across the UK, by boosting the lending capacity of a range of finance providers, including peer to peer and marketplace lenders. Since its establishment in 2014, British Business Investments has committed over £3bn to providers of finance to UK smaller businesses.

FOLK2FOLK specialises in providing finance to smaller businesses within regional UK, helping those who are looking to grow, develop or diversify in the post-pandemic and post-Brexit environment. The company has delivered £488m of investment into regional smaller businesses since 2013.

Judith Hartley, CEO, British Business Investments, said: “British Business Investments is delighted to announce its £7m commitment to FOLK2FOLK. In its recently published Regions and Nations Tracker report, the British Business Bank highlighted the funding issues for regional and rural smaller businesses. This commitment to FOLK2FOLK will help these types of businesses, throughout the UK, to access the finance they need to grow and prosper.”

Louis Mathers, Co-Founder & Director, FOLK2FOLK said: “By focusing on rural and regional businesses, FOLK2FOLK serves an extremely viable but underserved part of the SME landscape. Too often, investments overlook businesses operating outside of large urban areas. We founded FOLK2FOLK on the belief that something needed to be done about this regional disparity in funding. We felt a greater connectedness was needed between investors and regional Britain, and FOLK2FOLK was founded in early 2013 to be a mechanism to enable this. Together with our investors, we are helping to level the playing field for regional businesses.”