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Businesses: West Midlands

Volume 489: debated on Thursday 19 March 2009

15. To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what recent progress has been made in the delivery of financial assistance and loan guarantees to businesses in the West Midlands. (264485)

The Advantage Transition Bridge Fund has approved loans of over £7 million to 42 businesses employing over 2,700 people and over £6 million in Selective Financial Investment was distributed in grants in the West Midlands in the last financial year.

On 11 March we announced that up to £27 million will be available to Jaguar Land Rover under the Grant for Business Investment Scheme to support the creation of a greener Land Rover model.

So far the Enterprise Finance Guarantee has recorded 81 eligible cases with a total value of £5.3 million in the West Midlands.