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The new business bank has unveiled its latest funding allocations as part of a £300 million investment programme.

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The government's Funding for Lending Scheme has posted an increase in activity over the last quarter, the Bank of England says.

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The government has provided more details on its business bank and revealed that it will begin investing in April.

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Loan provider iwoca has received capital itself through a funding round led by Beyond Digital.

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The coalition will push forward with plans to build a business bank and are setting aside £1 billion of capital to initially fund the venture.

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Lending under the flagship government scheme created to encourage investment in higher-risk ventures, the Enterprise Finance Guarantee (EFG), has fallen to a new low and come under attack for neglecting regional business.