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Temporary Loans Fund

Volume 488: debated on Tuesday 24 February 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform by what means businesses in Banbury constituency may access the Temporary Loans Fund. (240396)

The South East Development Agency has established a Loan Fund for companies in the south-east. The Agency will provide up to £3 million in transition loan funds, available through the Bridging Mezzanine Debt Fund Managed by Finance South East Ltd. The fund will help high-growth businesses having difficulty obtaining finance from the commercial sector. Unsecured loans of up to £150,000 will be available in the form of commercial loans to bridge the gap between the amount the banks are able to offer businesses and the amount these businesses need to survive and grow. Companies in the south-east can apply for funds by contacting Finance South East Ltd. through their website:

www.financesoutheast.com