Business Finance Solutions delivers New Enterprise Funds

LOAN provider Business Finance Solutions has been awarded the contract to deliver the New Enterprise Allowance loans for Greater Manchester, Cumbria, Lancashire and Cheshire.

The loans have been set up by the Department for Work and Pensions to help people who have been receiving Jobseeker’s Allowance for a minimum of six months, and who wish to start their own business.

These people can apply for a loan of up to £1,000 to help fund the start-up costs for their business, and will also be provided with free pre- and post-start mentoring support.

Business Finance Solutions has provided the first of its New Enterprise Allowance loans to a Lancaster-based business providing handy man services.

Paul Breen, Funds Manager at Manchester-based Business Finance Solutions, said: “We are delighted to have been successful in our tender to deliver the NEA loan service across Greater Manchester, Cumbria, Lancashire and Cheshire. This is another way for entrepreneurs to get their business ideas off the ground and we’re looking forward to being a part of it.

“This is a separate offering to the existing Small Loans for Business service we provide to SMEs across Manchester, Stockport, Salford, Tameside, Trafford and Cheshire, but may well link into the work we do with viable businesses looking for loans that have been refused by the bank, should NEA -funded businesses require further finance in the future.”