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.
“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.”
"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."