Loans on offer to overcome covid impact
A LOAN fund for small businesses facing difficulties accessing essential finance as they look to overcome the impact of the Covid-19 pandemic has opened. The three-year Staffordshire and Stoke-on-trent Business Loan Fund will provide loans from £10,000 to £50,000 to companies across a range of sectors. It will see Staffordshire County Council working with Stoke-on-trent City Council and not-for-profit organisation BCRS Business Loans, which will administer the programme for both councils. Stoke-on-trent and Staffordshire Growth Hub manager Nicola Kent said: “It aims to enable businesses to expand, diversify and take on new employees. We look forward to as many businesses as possible getting in touch.” The chief executive of BCRS Business Loans, Stephen Deakin, said: “We are delighted to be working with Staffordshire County Council and Stoke-on-trent City Council again after delivering five successful loans funds in the past.
“The new loan fund builds on this support as small businesses start to shift their efforts towards recovering from the extensive impacts of Covid-19. We understand that small businesses are looking for a relationshipbased approach to lending, where dedicated finance professionals assess each loan application on its own merits, rather than using impersonal computerised credit scoring systems. “As a not-for-profit lender dedicated to social and economic impact, we believe that no viable business in Staffordshire should go unsupported
Information on the Staffordshire and Stoke-ontrent Business Loan Fund is available through the Stokeon-trent and Staffordshire Growth Hub at www. stokestaffsgrowthhub.co.uk Alternatively apply direct online by logging on to www. bcrs.org.uk.
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