Two regional business finance providers have come together to create a brand-new start up loan initiative.
A new West Midlands start up loan fund will boost business growth within Shropshire, Telford & Wrekin, Herefordshire, Worcestershire, Gloucestershire and Warwickshire – as well as in Solihull and Birmingham.
The affiliated organisations behind the scheme are Impetus Business Loans based in Pershore and CWRT (Coventry and Warwickshire Reinvestment Trust) based in Coventry.
Both are Government backed social enterprises and part of the UK Responsible Finance sector.
They lend money to help start up business or support businesses that have been running for up to two years and – with an aim to boost local business development – they’ve now joined forces.
Start up loans up to £25k are available and all business sectors are supported.
Andrew Scarborough from CWRT said, “This new loan fund is great news for anyone seeking start up finance in the West Midlands. It will improve efficiencies for both our organisations and also make it much easier for anyone in the region to get the business financing they need.”
Steve Williams from Impetus said, “This new partnership has created a regional one stop shop for anyone looking for this kind of support. If anyone would like to talk about a start-up loan they are invited to call either 01386 556000 or 02476 551 777.”
Supportive business finance mentoring is also available.