A new loan fund designed to support the south west’s small businesses has lent over £1m in just over two months.
The South West Loans Fund, managed by not-for-profit company SWIG Finance, provides business loans of up to £250,000. The lending is currently backed by the government’s CBILS guarantee scheme.
The fund has so far supported businesses in Gloucestershire, Bristol and Devon from a wide range of sectors including healthcare technology, travel and tourism, landscaping, construction, food and drink, and a laundry business. The support has helped to secure 40 jobs in the region, with a further 42 new jobs forecast to be created.
John Peters, Managing Director at SWIG Finance commented, “I am so pleased we are able to support these brilliant businesses, none of which could secure the funding they needed from their bank to survive and thrive. Our difference is that people make the lending decisions, not computers.”
As the South West’s leading Community Development Financial Institution (CDFI), SWIG Finance provides loans to viable SME businesses in the South West, to generate positive social, economic and environmental impacts.
When you choose to work with SWIG Finance, you are assigned a dedicated, local business manager who can work with you to understand your business and access the finance it needs.
For an informal discussion, get in touch with our friendly and professional team to find out how we can help: email@example.com / 01872 227 932.