Start-up business loans scheme launched in Barnsley
THE Coalfields Regeneration Trust (CRT) has joined forces with Barnsley Business and Innovation Centre (BBIC) to offer loans for start-up businesses in the area.
New companies and those which have been trading less than two years are eligible to apply for a Micro Business Loan worth between £500 and £3,000. The Micro Business Loans have a two year repayment period with an interest rate of 10%.
Peter McNestry of Coalfields Regeneration Trust said: “Our partnership with BBIC means that our loans will go hand in hand with the free, expert wrap-around business support offered by Enterprising Barnsley.
“The companies we loan money to will be in a much stronger position to use the investment to successfully establish and grow their business.”
Tim Milburn, chief executive of BBIC, said: “We are delighted to become CRT’s partner in Barnsley. We look forward to continue helping the businesses we support, offering them the additional option of applying for a CRT loan to help them grow.”
The Coalfields Regeneration Trust introduced the Micro Business Loan Scheme in response to the Clapham Report of 2010, which showed that, statistically, coalfield areas have far fewer businesses registered per head of population than the national average.
