Business bank begins

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BUSINESS Secretary Vince Cable has kicked off a wave of activity to boost small businesses, including unveiling the first funding allocation from the British Business Bank’s investment programme and launching a campaign to help small firms grow.

The first £45 million of funding is to be committed to Praesidian Capital Europe, with a £30m investment, and £15m to BMS Finance, to provide debt finance of approximately £125m through their respective new funds.