British Business Bank backs £200m funding facility for Capital on Tap

The British Business Bank has agreed a new ENABLE Guarantee transaction supporting up to £200m of funding from NatWest to specialist lender Capital on Tap, increasing its capacity to provide working capital finance to UK small businesses.

The transaction will enable Capital on Tap to expand lending through its business credit card offering, providing smaller businesses with flexible access to funding to support their day-to-day operations and growth ambitions.

Founded in 2012, Capital on Tap has developed a technology-led lending platform focused on improving access to finance for small business owners.

More than 300,000 UK small businesses have used its business credit cards, generating over £40bn in transactions since launch.

The new funding arrangement combines NatWest’s financing with a government-backed guarantee from the British Business Bank, designed to encourage additional lending to smaller businesses.

The British Business Bank’s ENABLE Guarantees programme supports participating lenders by providing government-backed guarantees on defined portfolios of debt finance in return for a fee.

The programme aims to increase the availability of finance for smaller businesses while encouraging greater competition and diversity among lenders.

As of October 2026, the programme had completed 23 transactions with 16 delivery partners, supporting more than £7bn of lending since its launch.

“We’re enhancing the funding NatWest can provide to Capital on Tap, which in turn unlocks additional lending capacity for smaller businesses, helping them manage their working capital needs.

“This collaboration demonstrates how the British Business Bank’s ENABLE Guarantees programme boosts access to finance for small businesses across the UK and increases diversity of supply.”

Damian Brychcy, Chief Executive Officer of Capital on Tap, welcomed the agreement, highlighting its importance in supporting the working capital requirements of small businesses.

“The ENABLE Guarantee is the type of infrastructure that helps accelerate the British economy and helps small business owners. This partnership with NatWest and the British Business Bank will give us more capacity to provide the needed working capital that small business owners truly need.”

George Ross, Head of Speciality Finance at NatWest, said the agreement would help Capital on Tap increase its lending capacity through business credit card receivables.

“We’re pleased to support Capital on Tap in executing this new facility, with a portion of the senior commitment backed by the British Business Bank’s ENABLE Guarantees programme. The provision of the Guarantee alongside our financing will help to support increased access to SME lending through credit card receivables across the UK.”

Ross added that the transaction reflected NatWest’s commitment to supporting specialist finance providers and improving access to funding for UK SMEs.

Business Secretary Jonathan Reynolds said: “Small businesses are at the heart of our communities, creating jobs and driving growth. This new funding will unlock opportunity and help more of them access the finance they need to grow.”

The transaction follows the government’s decision at the previous Spending Review to increase the capacity of the ENABLE Guarantees programme from £2bn to £5bn.

The additional £3bn in capacity is intended to enable the British Business Bank to support more finance providers in scaling their lending activities, expanding the supply of finance and strengthening competition across the UK SME lending market.