The £5m Microloan Fund is the latest addition to the Finance for Business North East programme. The fund aims to support the creation of new enterprises and the growth of existing micro and small businesses across the region. The fund will also help to stimulate the creation of new business and secure jobs within the region.
Unsecured loans of between £1,000 and £25,000 will be made to both new and existing businesses, operating within eligible sectors, which are finding it difficult to secure mainstream finance.
Loan support will be targeted at key customer groups, including disadvantaged individuals, sole traders, partnerships and third sector enterprises.
The North East Microloan Fund is managed by Entrust. For further details, please visit www.entrust.co.uk or call 0191 244 4029
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