New cash for small business initiative
Devon County Council (DCC) has welcomed a new initiative to provide much needed access to finance for small and medium businesses.
Loans of up to �7,500 will be on offer to firms in the county thanks to the new consortium, the Devon Investment Fund.
It aims to build a portfolio of funds to improve and simplify access to finance, including providing �5million to provide small scale loans.
DCC will be working with a number of partners on the scheme, including the Devon Community Foundation, the South West Investment Group, Dartington Hall Trust and the Fredericks Foundation.
The council itself is providing �60,000 to help cover research and start-up cost, and the cabinet member for Economy, Enterprise and Employment, Councillor Will Mumford said: “This fund will certainly help small and emerging enterprises get a foothold in Devon’s business economy.
You may also want to watch:
“Through a co-ordinated package of loans and advice we will be helping Devon’s entrepreneurs realise their dreams and ambitions.”
- 1 Jess Bailey secures a seat at Devon County Council
- 2 Stuart Hughes retains Sidmouth county council seat
- 3 Otter Valley candidates get ready for County Council elections
- 4 Sidmouth candidates looking for your vote at the County Council elections
- 5 Photographic competition challenges snappers to spring into action
- 6 12 countries announced on travel green list from May 17
- 7 Three Barbaras and a dog move in at Lockyer Lodge
- 8 Town council vacancies to be filled at the ballot box
- 9 Paedophile hunters' sting in Sidbury leads to prosecution
- 10 Initial details revealed for this year's week-long Folk Festival