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Dip into Pounds 2m urban start-up pot

0 Comments | Western Morning News, The, Jul 22, 2010

Small businesses in the Westcountry can apply for loans of up to Pounds 5,000 following the creation of a Pounds 2 million fund for the South West.

The South West Micro Loan will support small businesses and start- ups in Plymouth, Torbay and Bristol.

Truro-based not-for-profit South West Investment Group (Services) Limited has been appointed as fund manager to deliver the loans. The micro loans fund is one of a suite of business support measures being introduced to try and develop an enterprise culture within disadvantaged areas.

The scheme is backed by the European Regional Development Fund, the South West Regional Development Agency and SWIG (Services) sister company South West Investment Group (Capital) Limited. David Parlby, chief executive of Plymouth Chamber of Commerce and chairman of the Plymouth European Competitiveness Funding Forum (PECFF), said: “This initiative marks another step in the right direction within the overall Urban Enterprise programme. John Berry, of SWIG (Capital), said: “The fund will complement the South West Loans Fund and provide an opportunity for those with a good plan and the drive to deliver it to make something for themselves.”

For information contact SWIG on 01872 223883.