ART Business Loans to support SMEs with £7m BBB funding

ART Business Loans is set to expand its support for smaller businesses across the West Midlands in 2026 after securing £7m of new funding from the British Business Bank.

The Birmingham-based finance provider has been allocated the funding through the British Business Bank’s Community ENABLE Fund, enabling it to offer loans above £25,000 to underserved SMEs across the region. The new capital increases the range of funding available through ART Business Loans, which provides finance of between £10,000 and £250,000 to businesses that struggle to access traditional bank lending.

ART Business Loans is the fourth accredited delivery partner under the Community ENABLE Fund programme, which was launched to increase the availability of funding to social impact SME lenders. The initiative is designed to support community development finance institutions (CDFIs) and is expected to unlock up to £150m of lending across the sector during its first two years.

Steve Walker, chief executive of ART Business Loans, said the funding comes at a critical time for many smaller firms.

“We recognise that companies are facing challenging times,” he said. “More than 75% of the businesses we have helped are from underserved areas and communities, and this aligns closely with the British Business Bank’s wider mission to improve access to finance for underserved entrepreneurs across the UK.”

Roz Haque, business lending manager at ART Business Loans, said the organisation is focused on backing firms that deliver wider economic and social impact.

“We are looking to support businesses that need finance to grow, create employment opportunities, upskill their teams and positively contribute to their local communities,” she said.

Founded in 1997 as Aston Reinvestment Trust, ART Business Loans is a CDFI that was established to help alleviate poverty through enterprise. Since launch, it has lent more than £40m to over 1,800 businesses, helping to create or protect more than 8,500 jobs across the Midlands and adjoining counties.

The organisation operates a blended funding model, drawing investment from corporate, private and public sector sources, including philanthropic backers and high street banks. ART also receives funding through the Regional Growth Fund via trade association Responsible Finance, matched by ethical lender Unity Trust Bank.

At the time of the Community ENABLE Fund announcement, British Business Bank chief banking officer Reinald de Monchy said:

“We are delighted to welcome ART Business Loans as the fourth accredited lender under the Community ENABLE Funding programme. We look forward to seeing the impact they will have on smaller businesses across the region.”

ART Business Loans has previously secured backing from private sector partners. In 2023, it received a £4m investment from a partnership between global technology company Block Inc and Unity Trust Bank, marking Block’s first UK social impact investment.

ART said the latest funding will allow it to scale lending activity in 2026, supporting business growth, job creation and economic resilience across the West Midlands and surrounding regions.