Business Finance Solutions has awarded a small business loan of £45,000 for a company in Salford Manchester to encourage and support business development.

For the last 12 months the company has been developing and growing and struggling to secure additional funding from normal sources.

The Small Business Loan scheme provides small loans of between £3,000 and £50,000 to new and growing businesses in the Northwest. It was set up to encourage and make it easier for people to grow their own enterprises, creating jobs and contributing to the Northwest economy.

The scheme if funded by Government, the North West Development Agency and private sector partners. It is aimed at people already running or looking to start a small business. The main criteria is that you have evidence that you have tried to obtain funding from traditional sources, such as Bank or a Building Society, but have been refused. As long as you have a workable business plan, with the potential to turn your ideas into reality and create new jobs, even if it’s just one or two, you can apply for a Small Business Loan.

The money is lent for an agreed period of time, usually between three and five years and can be used to help put plans into action. Interest is charged on the amount borrowed and repayments are monthly.

Going for Grants exists to advise, search, identify and apply for loan funding on behalf of its clients and has been delighted over the last few months to advise and assist the company in applying for and securing a Small Business Loan of £45,000.

To find out more of what grant or soft loan funding is available for your projects contact us at: enquiry@goingforgrants.co.uk.

Going for Grants
24th August 2010