UK small businesses access over £700 million of loans

UK small businesses access over £700 million of loans Small businesses based in the UK have managed to secure £726 million worth of loans made available by the European Investment Bank (EIB).

According to the British Treasury, some 2,769 small businesses have benefitted from a total of £726 million in loan funds. The improved access to credit is the result of a broad range of measures by the EIB, which plans to release around £4 billion to small business in the period of 2008 to 2011.

The National Chairman of the Federation of Small Business (FSB), John Wright, said that his organisation is pleased that nearly 3,000 small firms have benefited from the low-cost loans made available by the EIB. However, he urged non-participating banks to enter the scheme in order to increase the availability of credit for more companies.

Ian Pearson, the Economic Secretary to the Treasury, highlighted that support for small businesses is crucial for driving growth in the UK and said that he was “delighted that small businesses are benefiting from this finance”.

"I want to encourage all businesses to get in touch with their local banks to find out if they can get access to this funding,” he added.

03/02/2010 14:18:00 Comments 0

Name

Web site (for example www.mywebsite.com)

Comment

Back

Constructaquote.com is a trading title of Moorhouse Group Ltd which is authorised and regulated by the Financial Services Authority. The Financial Services Authority's Register can be accessed through http://www.fsa.gov.uk/Pages/register Reg No 308035.

Home |Sitemap | Accessibility | Terms & Conditions

Products & Services

Liability Insurance – This insurance can provide you with employer’s liability and product liability insurance. We offer a highly competitive standard package with optional extras.
Public Liability Insurance – Public liability is essential insurance for many businesses, especially those working closely with the public. We offer cover of £1m, £2m, £5m, or more on request. Only pay for what you need.
Employers liability insurance - If you have employees working for you, you are legally obliged to have employers liability insurance. We provide you with £10m of employers liability so you can rest assured you’re fully covered.
Shop Insurance – Retail insurance is a package of policies covering employer’s liability, public liability, business interruption and building insurance. Retail insurance is important for any business with premises. We offer a range of policies from top underwriters.
Professional Indemnity Insurance – This type of policy protects your business against claims for loss or damage if you are found to have been negligent in your duty. This is particularly important if your company imparts professional advice. Our policies cover businesses for a range of circumstances and are very competitive.
Restaurant Insurance – Our restaurant insurance packages can be tailored to your specific business needs. We provide you with a range of restaurant insurance options, from liability and business interruption insurance, to money and glass cover.