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The British Business Bank will provide a £21.25m increase of its existing ENABLE Funding facility with Bracknell-based Tower Leasing.
The original £25.5m facility was agreed in December 2017, enabling Tower Leasing to provide additional asset finance to smaller businesses looking to acquire business critical assets.
This new facility will allow Tower Leasing to support an origination pipeline built upon relationships with vendors, resellers, and customers, continuing to provide asset finance to UK SMEs.
Kerry Howells, MD at Tower Leasing said: “This increased facility as it reinforces empowers us to expand our support to a wider number of businesses amidst a notably challenging economic landscape.”
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