Sector - Commercial
SME housebuilders to benefit from new loan scheme
The Housing Secretary, Rt Hon Robert Jenrick MP, that SME housebuilders will benefit from the allocation of millions of pounds through a new building programme named the ENABLE Build Programme from the British Business Bank.
What the ENABLE Build Programme effectively provides is a foothold for SME housebuilders to make their way onto the market as the Housing Secretary recently announced that the Government will provide £1Bn for the British Business Bank to allow SME housebuilder to take out loans for the provision of housing across England.
Secretary Jenrick stated “Small housebuilders are vital to building the homes this country needs but too often struggle to access affordable finance.
“Today I am giving the green light to a scheme that will help to fix this. Supporting £1Bn of new loans so that local builders can kickstart building, level up the country and turbocharge the housing sector.”
The Housing Minister, Rt Hon Esther McVey MP commented: “When it comes to building houses, we mean business – this fund will give everyday lenders the confidence needed to do deals with smaller builders which get shovels in the ground.
“Today I have given the green light to £1Bn in loans to boost local builders, so they can deliver the homes our communities need across England.”
The Managing Director of Guarantee and Wholesale at the British Business Bank, Reinald de Monchy added: “The ENABLE Build programme is a great example of using a cross-government approach to tackle an important, complex issue.
“Working in partnership with the Ministry of Housing, Communities and Local Government, the Department for Business, Energy and Industrial Strategy and Homes England to address both access to finance and the UK housing shortage, the ENABLE Build programme will allow us to build on our ENABLE Guarantee’s success in supporting smaller housebuilders that have traditionally struggled to access the funding they need.”
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