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Small Businesses: Bexley

Volume 504: debated on Wednesday 27 January 2010

To ask the Minister of State, Department for Business, Innovation and Skills how many small businesses in the London Borough of Bexley have applied for financial assistance under the (a) Enterprise Finance Guarantee and (b) Capital Enterprise Scheme since their inception; and how many such applications have been granted under each scheme. (311562)

Under the Enterprise Finance Guarantee, as of 13 January, 14 businesses in the London Borough of Bexley have been offered loans totalling £1.15 million. Businesses may apply for a loan from any one of the participating lenders who will assess which form of lending, including the Enterprise Finance Guarantee, is most appropriate. We do not hold figures for those businesses which are instead offered a normal commercial loan, or are rejected for failing to meet the lender's commercial criteria.

With respect to the Capital for Enterprise Fund equity scheme, CfEF received 243 enquiries from businesses in London seeking investment to the value of £293 million. Thus far, four businesses have received investments totalling £4.8 million, two businesses have agreed terms on investments with a value of £3.2 million, three businesses has been offered investment totalling £5 million and 23 propositions are under active consideration with a value of £39.3 million. The remaining enquiries are either being considered subject to further information to be supplied by the applicant or have been rejected or withdrawn. I am unable to provide a breakdown by parliamentary constituency or local authority as this could make it possible to identify the individual companies that have received support.