British Business Bank opens up £30m funding pot of ‘Help to Grow’ Businesses will be able to apply to secure up to £2m through the government scheme launched in partnership with Lloyds Banking Group Written by Henry Williams Published on 23 May 2016 Our experts We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Written and reviewed by: Henry Williams Content Manager The British Business Bank has launched the first £30m tranche of ‘Help to Grow’ – the scheme announced by the prime minister last year to facilitate £200m of growth loans within its first two years.From today, small businesses will be able to access up to £2m in funding through Lloyds Banking Group to support the development of new products and processes, research and innovation, and to target new export markets.Though funding will be available to businesses from all sectors, manufacturing, businesses, creative industries and the technology sector are expected to benefit most.The initial phase of Help to Grow was increased from £100m to £200m in the chancellor’s budget in March 2016.Keith Morgan, CEO of the British Business Bank, said: “We want to replicate the drive and dynamism evident in the UKs start-up culture in later stages of the small business journey, and Help to Grow has a critical role to play in achieving that.“We are pleased to announce our partnership with Lloyds Banking Group and to be working with the European Investment Fund to bring this vitally important finance to the UK market.” Share this post facebook twitter linkedin Written by: Henry Williams Content Manager Henry has been writing for Startups.co.uk since 2015, covering everything from business finance and web builders to tax and red tape. He’s also acted as project lead on many of our industry-renowned annual indexes, including Startups 100 and Business Ideas, and created a number of the site’s popular how to guides.