Small businesses across the UK could benefit from increased access to finance following a new £45 million funding commitment designed to support business investment and growth.

The British Business Bank has increased its funding facility with Compass Business Finance to up to £45 million, providing additional capacity to support smaller businesses looking to invest in equipment, technology and other business assets.

More Funding for UK SMEs

The latest agreement builds on an existing relationship between the British Business Bank and Compass Business Finance.

An initial £15 million commitment was made in 2020 before being increased to £30 million in 2022. The facility has now been extended again to as much as £45 million.

Compass provides a range of commercial finance facilities including finance leases, hire purchase and business loans to smaller businesses across the UK.

Supporting Investment in Equipment and Technology

Access to finance can play an important role when businesses need to invest without using significant amounts of their existing working capital.

Asset finance, for example, can allow businesses to spread the cost of vehicles, machinery, equipment and technology over an agreed period rather than funding the entire purchase upfront.

For growing businesses, this can help preserve cash for other areas such as staffing, stock, marketing and day-to-day operating costs.

Why Access to Business Finance Matters

The British Business Bank says the expanded facility is intended to strengthen the flow of finance to smaller businesses and support investment, growth and resilience.

The announcement is another indication of the continued focus on improving access to funding for viable UK SMEs.

Different businesses will have different funding requirements, and the most suitable type of finance will depend on factors including the purpose of the funding, the amount required and the financial position of the business.

Exploring Your Business Finance Options

At MoneyWow, we help UK businesses explore a range of finance options from our panel of lenders.

Whether you’re looking to purchase machinery, finance new equipment, invest in technology or raise capital for your next stage of growth, we’ll help you explore suitable funding options based on your requirements.

Looking to invest in your business? Explore your finance options with MoneyWow today.

Source: British Business Bank, 1 September 2026.