The North West Fund for Micro Loans is pleased to announce that it has exceeded the £1m mark, after providing loans to help 28 of the region’s growing businesses.
41 per cent of the funds have been distributed to businesses in Merseyside, with the remaining going to companies in Greater Manchester, Lancashire, Cheshire and Cumbria.
Businesses backed so far include Merseyside-based Franklin Energy, Inteb and Zanto Digital; along with Greener Surfacing Ltd in Rossendale and Essential English Centre in Manchester.
Cliff Maylor, Chief Executive at NWBF, said: “We’ve been really impressed with the success of the Micro Fund so far and the demand from North West businesses looking for smaller investments has been very high. Together with all our fund managers, we will continue to support the region’s growing businesses at a time when traditional forms of funding still remain difficult to obtain.”
David Martin, Fund Manager at Business Finance Solutions, added: “The Micro Fund was designed to provide businesses with a boost so they can expand into new markets, invest in new products or take on more staff. Our introducer network has been fantastic and we’ve been working with some excellent organisations over the past few months. We now look forward to supporting more entrepreneurs across the region.”