Stoke on Trent City Council provides the Stoke on Trent Business Loan Fund in conjunction with the Black Country Reinvestment Society (BCRS).
At the time of launch Paul Kalinauckas, Chief Executive of BCRS, said: “This fund will certainly help Stoke on Trent develop, grow and prosper. Small businesses are under the radar when it comes to access to finance, which is holding back their growth prospects.
“It is an exciting time to find new and innovative ways of non-bank lending and we are looking forward to providing local people with job opportunities and creating wealth in the Stoke onTrent area.”
The scheme aims to assist those businesses that have already been turned away by mainstream lenders. Loans from £10,000 to £50,000 are available.
Assistance is available to businesses in Stoke on Trentthat have been unable to acquire assistance from mainstream lenders. Following the scheme’s recent launch, it has been
reported that is has approved its first loan. Ceramics firm Camal Enterprises has secured £50,000 from scheme.
Camal, based in ChatterleyValley, near Tunstall, has used the cash to create two new jobs. Camal, which is based at the Genesis Centre at the North Staffordshire Business
Park, employs 12 people. The firm has developed its own range of traditional figurines and tableware called English Ladies, which is designed here but made in Thailand and Vietnam.
Applications for loan support through the new scheme may be submitted at any time.
For more details please visit the BCRS website at http://www.bcrs.org.uk/news.html