New funding source announced
06/05/2008
Aspiring entrepreneurs who have encountered problems raising finance for their business ventures, are set to benefit from the launch of a new initiative by the East Midlands Development Agency (emda) and First Enterprise Business Agency (FEBA).
EnterpriseLoans East Midlands, which will be unveiled in June, will provide funding support for both existing and budding entrepreneurs.
EnterpriseLoans East Midlands aims to help 1,000 businesses over the next ten years, by offering loans of between £3,000 and £20,000. The loan fund is specifically designed for those people who are unable to access finance from traditional sources such as banks.
Full details of EnterpriseLoans East Midlands will be unveiled at a series of launches, starting in Lincoln on 2nd June, followed by Derby (4th June), Leicester (11th June), Nottingham (12th June) and Daventry (13th June.)
Speaking ahead of the launch, Jeff Moore, emda’s Chief Executive, says that EnterpriseLoans East Midlands will have a significant impact in the region: “We know there are many people in the East Midlands with vision, commitment and viable business propositions who cannot, for one reason or another, access funding from traditional sources. EnterpriseLoans East Midlands will help these people to realise their dreams, by giving them the opportunity to establish their own businesses, helping to create new jobs and wealth in the region.”
Enterprise Loans East Midlands will be managed for emda by First Enterprise Business Agency. “We are confident that through this new fund we will be able to create and grow many businesses,” says Quamar Zaman, FEBA Chief Executive. “There are many entrepreneurial people who struggle to obtain finance, perhaps due to a poor credit history or because they do not have assets to use for security against loans. These are the people that this initiative is designed to help.
“First Enterprise has a strong track record of delivering alternative funding to businesses and we’re delighted to be working with emda on this very exciting project.”
Anyone wanting to attend any of the five Enterprise Loans East Midlands launch events should register on-line at www.kc-jones.co.uk/enterpriseloans.
Existing entrepreneurs or individuals who are thinking of starting up in business and who require further information about Enterprise Loans East Midlands should telephone 0115 970 4882
Submitted by TR