London-based film and TV lending platform Allegro Finance has secured a £2 million ($2.6M) working capital facility from Beechbrook Capital, through funds managed on behalf of the British Business Bank.

The announcement of the facility follows Allegro Finance’s official launch last week of a $500 million credit facility dedicated to film and television production, with entities advised by Elliott Advisors UK Limited.

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Allegro was launched in 2024 by film and TV finance, structured credit and investment banking veterans Jamie Lowe, Peter Touche and Sam Collett.

“This working capital facility is a powerful catalyst for Allegro’s growth and we are grateful for the support from Beechbrook and the funds they manage on behalf of the British Business Bank,” said Collett.

“It enables us to scale the platform and deploy private institutional capital into the UK film and television sector at a level not previously seen. This is precisely how public capital can unlock private investment, support high-growth businesses and strengthen one of the UK’s most globally competitive industries.”

Allegro’s funding line will be deployed across a diversified international slate of film and television productions in line with Allegro’s ambition to become the leading non-bank senior lender to the global screen industries.

Paul Shea, Managing Partner of small and medium-sized businesses lender specialist Beechbrook Capital, said the creation investment was good fit for the funds the company manages on behalf of the British Business Bank.

“All our funds seek to support growth and job creation, and this investment is no different. The UK’s creative industries are a vital part of the economy, employing hundreds of thousands of people and driving significant cultural and economic value,” said Shea.

British Business Bank Managing Director and Co-Head of Funds Adam Kelly pointed to the fact that creative industries are a key part of the UK’s industrial strategy.

“The UK’s creative industries play a vital role in the government’s Industrial Strategy, employing 2.4 million people and contributing £124bn of Gross Value Added to the economy. By providing finance to Beechbrook Capital, and in turn supporting specialist platforms like Allegro Finance, we support businesses to access the finance they need to start, scale and stay in the UK,” he said.

AMHERST, Mass. (WWLP) – Hampshire College is at risk of losing its accreditation following recent action by the New England Commission of Higher Education.

The college must now prove it meets the commission’s standards to maintain its standing. In a letter issued last week, the commission stated it took action against the college at the beginning of the month.

The oversight body indicated that it has reason to believe the school is no longer meeting essential standards, including the ability to organize the resources necessary to achieve its educational purposes.

Several specific factors contributed to the commission’s decision to take action against the school. The oversight body cited the institution’s inability to successfully sustain enrollment growth as a primary concern. Additionally, a planned financial move involving the sale of the Atkins parcel of land fell through.

The college also faces significant financial hurdles regarding its long-term debt and savings. Documents indicate the school has been unable to refinance its $21 million bond debt. Meanwhile, the college’s unrestricted endowment has continued to decline.

Leadership at Hampshire College addressed the commission’s findings in a joint letter. The Hampshire College President Jennifer Chrisler noted that the administration has a long history of cooperation with oversight agencies.

“Throughout Hampshire’s history, leadership has worked productively with our accreditors to plan for, provide and assess our distinctive, student-driven educational model,” Chrisler stated.

The chair of the board of trustees also responded to the commission’s focus on the school’s fiscal health. Chair Jose Fuentes emphasized that the board is actively working to resolve the college’s liabilities. “Ongoing financial viability is the board’s top priority. To that end, we are focused on refinancing the college’s debt,” Fuentes said.

Despite the current review, Hampshire College will maintain its accreditation for the time being. This allows the institution to remain eligible for federal funding, ensuring that students can still receive federal financial aid while the process continues.

Hampshire College is required to present its case for maintaining its status at the commission’s June meeting. The school must demonstrate why its accreditation should not be revoked at that time.