British Business Investments (BBI), a commercial subsidiary of the British Business Bank, has announced a new £25m commitment to Cheshire-based asset finance specialist and alternative lender, Kingsway Finance Ltd.

The commitment is a revolving credit facility provided through BBI’s Investment Programme, which is designed to increase the supply and diversity of finance for smaller businesses by boosting the lending capacity of challenger banks and non-bank lenders.

The facility will be used to support Kingsway’s growth plans for the provision of lease finance, commercial loans and professions loans to smaller businesses across the UK.