The Business Secretary, Vince Cable, has announced details of a new £60 million Fund intended to provide lending to micro, small and social enterprises.
The scheme has been established with £30 million from the Regional Growth Fund for England (RGF), matched with a further £30 million by the Co-operative Bank and Unity Trust Bank.
Administered by the Community Development Finance Association (CDFA), the scheme is expected to create or safeguard over 8,000 jobs throughout the UK over 8,000 jobs throughout the UK over the next six years. It is also anticipated that it will meet the increased demand from small businesses looking to access finance.
For more detalils please visit the Department for Business, Innovation & Skills website at: http://www.bis.gov.uk/.
Source: Department for Business, Innovation & Skills, 04/10/2012