Positive’s £20m for region’s SMEs

POSITIVE Cashflow Finance, the invoice finance provider, is launching a £20m fund to support SMEs in the region.

The fund will be spread across the Lancashire, Cheshire, Greater Manchester and Merseyside regions.
 
The funding from Manchester-based Positive – which is backed by Infinity Asset Management and Lloyds TSB Commercial – will be available to firms with a turnover of between £100,000 and £10m, and can be used to replace bank funding lines in order to support the working capital and cashflow.
 
Positive said the launch is a response to the continuing difficulty some small businesses are having to access finance from traditional sources.
 
Sales and marketing director Phil Chesham said: “Small and medium-sized businesses are in desperate need of suitably-priced funding to provide financial stability, particularly as the banks remain nervous to lend and have one-eye on their capital ratios.
 
“By ring-fencing this fund, we have a great opportunity to make a real difference to business communities in the North West by helping its SMEs maintain steady cashflow. The funding can also be used to encourage entrepreneurs to pursue their growth ambitions and avoid standing still in a difficult market.”