Let’s Do Business Finance First Lenders in the UK to Receive Accreditation for New Community ENABLE Funding from the British Business Bank

Let’s Do Business Finance, based in Hastings, East Sussex, are the first accredited lenders in the UK of the new Community ENABLE Funding programme from the British Business Bank  – unlocking an additional £6 million in their lending capacity and boosting the amount of businesses they will be able to support over the next 2 years.

Part of the wider Let’s Do Business Group, a social enterprise founded in Hastings in 1994, Let’s Do Business Finance is a Community Development Finance Institution (CDFI) and a Responsible Finance provider. Supporting small and medium-sized enterprises (SMEs) and operating across the South East and East of England, Let’s Do Business Finance offers access to fair and affordable business finance, and works alongside other CDFI’s in the UK to remove barriers to accessing finance experienced by many businesses. These include those located in disadvantaged areas, as well as several underrepresented groups such as female and ethnic-minority led businesses, as well as those declined by traditional finance routes like high street banks.

The Community ENABLE Funding Programme from the British Business Bank, first announced in November 2024, is an initiative designed to increase the capacity of the social lending sector, therefore enabling CDFI’s and Responsible Finance providers like Let’s Do Business Finance to support more businesses than ever before. By supporting CDFI’s and providing a boost to their capacity, it is hoped that with increased access to fair and affordable finance to grow, this will in turn support businesses that play a key role in driving social impact, innovation, and job creation in local communities.

Gareth Thomas, Minister for Small Businesses, said:

“This Government’s number one mission is growth. That means providing the UK’s 5.5 million SMEs with the right tools to start up, scale up and succeed, to create jobs and boost the economy as part of our Plan for Change.

“As part of this, we are determined to support the growth of community banks that want to lend to small businesses. In countries like the US, they play a key role in SME lending and have the potential to do significantly more here in the UK.

“That is why the Community ENABLE Funding programme is such an important initiative, supporting the UK’s CDFI sector.”

An established partner in delivering government-backed business finance schemes, including the Start Up Loan and Growth Guarantee Schemes from the British Business Bank, Let’s Do Business Finance works to widen access to business finance and support to fuel local economic growth – helping businesses to start up and grow, and creating local jobs and prosperity. Differing to a traditional bank, Let’s Do Business Finance sets themselves apart by going beyond the numbers when it comes to supporting their business clients – steering away from any ‘computer says no’ algorithms and instead focusing on understanding the potential of a business and the people behind it through a more personal approach.

“Access to finance is critical for SMEs to grow, create jobs, and stimulate local economies. With this funding, we will be able to support even more businesses, in the areas and communities that we serve and need it the most,” added Sean Dennis, Managing Director of Let’s Do Business Finance. “This is an exciting step forward for us as an organisation, as it allows us to continue expanding our efforts to support diverse, innovative, and ambitious businesses across our coverage areas, and not be limited by capacity”

The first in the country to receive official accreditation of the new Community ENABLE Funding from the British Business Bank, Let’s Do Business Finance will be able to lend an additional £6 million to SME’s over the next 2 years - and are excited for boost the new funding will bring to the sector, noting how the programme signifies a significant investment in the future of UK businesses, and makes positive steps towards closing the gap on existing barriers to business growth that can make real change in communities. The new funding stream, in supporting CDFI’s like Let’s Do Business Finance, will help to ensure that regardless of their background or location, all budding and growing businesses will have the opportunity to succeed.

To find out more about what Let’s Do Business Finance do and how they’re working to make a difference in local communities, visit www.letsdobusinessfinance.co.uk/about-us