York SMEs to benefit from £250,000 loan fund
SMEs in York have been given a funding lifeline thanks to the creation of a £250,000 loan fund.
York Business Development, AVIVA, York City Council and York Professionals are providing access to match-funded loans.
Aimed at small businesses in York the loans are provided at a preferential interest rate.
A spokesman for the newly created fund Whyte Knight Fund said that the partners were committed to supporting the establishment and growth of new small businesses, and wanted to try and assist those who have been made redundant or are unemployed.
“This loan fund is particularly aimed at supporting new businesses that are innovative, demonstrate the ability to deliver sustainable long lasting economic growth and job creation, adopt good business practices and deliver environmental benefits,” the statement read.
The fund is designed to help existing businesses under three years old or people who have lost their jobs or are unemployed and looking at setting up a business within the York City Council area.
Further information can be obtained from York Business Advice Centre, which has been appointed as administrators to the fund. Visit www.ybac.co.uk or call 01904 699590 for details.
