The British Business Bank has agreed a £75 million facility with Propel Finance, the UK’s fastest-growing asset finance provider.

Propel has lent £2 billion to more than 70,000 businesses over the last decade. The new £75m ENABLE funding facility has been announced alongside investment in its first public securitisation, Velocity 2026-1. 

This is the first time the Bank has invested in a Public Asset-Backed Securitisation (ABS) issuance, having supported Propel with its first private securitisation in 2022.

It says the transactions demonstrate the Bank’s strategy of supporting business securitisation markets to enhance funding options for lenders that provide finance to UK small and medium enterprises.