British Business Bank has named Let’s Do Business Finance as an accredited lender for Community ENABLE Funding (CEF) in the South East.
This will allow Let’s Do Business Finance to lend up to £6m to smaller businesses in the region over the next two years.
The lender joins First Enterprise in the Midlands as one of two lenders accredited so far.
The funding will focus on businesses in disadvantaged areas, those with limited awareness of finance options, and firms turned down by mainstream lenders.
The scheme also targets underrepresented groups, including female-led and ethnic minority-led businesses.
Loans from Let’s Do Business Finance under the programme will start at over £25,000. Community ENABLE Funding aims to boost the availability of funding for social impact sector lenders and smaller businesses in local communities.
The scheme primarily supports community development financial institutions, with a target to support up to £150m of lending over two years.
Reinald de Monchy, co-chief banking officer, products at British Business Bank, said: “We are delighted to announce Let’s Do Business Finance as one of the first accredited lenders for the Community ENABLE Funding programme, following its successful launch in November last year.
“The company has a strong record of supporting smaller businesses in the South East, particularly those that face challenges in accessing finance from mainstream lenders.
“They have shown a clear commitment and genuine passion for empowering these businesses and we are excited to see the meaningful impact they will deliver.”
Sean Dennis, managing director at Let’s Do Business Finance, said: “Becoming an accredited partner of the Community ENABLE Funding programme marks an important milestone as a not-for-profit organisation dedicated to supporting small businesses with access to finance.
“This accreditation will enable us to extend our reach, providing vital funding to communities and individuals who often face barriers when seeking traditional finance options.
“The programme’s support will significantly enhance our ability to make a meaningful difference where it is needed most.”
Theodora Hadjimichael, CEO at Responsible Finance, said: “We’re delighted that Let’s Do Business Finance and First Enterprise have become the first accredited lenders for the Community ENABLE Funding programme.
“We are excited to see the impact they will generate for their small businesses and hope to see more community lenders across the whole UK join them in the coming months.”
