Valerie Dwyer speaks at launch of Enterprise Loans East Midlands
Valerie Dwyer speaks at the launch of the Enterprise Loans East Midlands in Daventry on the 13th June 2008.
Valerie particularly encouraged communications of the fund to women’s, BME enterprises and those owned or planned by women with disabilities. She also spoke of her role within the Women’s Enterprise Task Force. Her speech went down very well and Valerie followed with an interview with Northants Commercial Radio.
A new initiative pledging £3 million to help fuel economic growth within Northampstonshire was officially launched at the Barcelo Hotel, Daventry on the 13th June 2008.
Unveiled by the East Midlands Development Agency (emda) Enterprise Loans East Midlands is a new source of funding for business start ups and existing companies that have been turned away by conventional High Street lenders.
A Community Development Finance Institution Fund, Enterprise Loans East Midlands, will be managed by First Enterprise Business Agency (FEBA) and provide loans of between £3,000 and £20,000.
Speaking to an audience of business advisers, intermediaries and business support professionals, emda board member Valerie Dwyer, said that Enterprise Loans East Midlands would help reduce economic inequalities and increase productivity within the region. “Over the next ten years our aim is to create and safeguard 1,400 jobs and assist 1,000 businesses, half of which will be start up businesses. Enterprise Loans East Midlands will focus on supporting businesses owned and started by young people, women, ethnic minorities and people with disabilities.”
Quamar Zaman, Chief Executive of fund manager FEBA added: “We have operated a loan fund scheme since 1993, helping those people who were considered ‘un-bankable’, the long-term unemployed or those without a verifiable credit history. These people are unable to meet even the minimum qualifications to gain access to traditional credit.
“Enterprise Loans East Midlands is an excellent initiative for the region. Being unable to access finance is one of the main inhibitors of business start-up and growth, especially for small businesses and deprived communities.
“Enterprise Loans East Midlands will help us to reach a group that would not otherwise be able to start or develop a business.”
Darren Mercieca, Northamptonshire Area Manager for the Business Link service welcomes the introduction of Enterprise Loans East Midlands “There is no doubt that in today’s economic climate many people in the East Midlands are finding it increasingly difficult to acquire the funding they need to start or develop their business. This is particularly the case if you have a poor credit rating or have been declined funding in the past. Given the credit crunch, the banks have become even more selective over which ventures they’ll back, so the launch of Enterprise Loans East Midlands is both timely and welcomed. I am confident it will help many people across the region realise their ambitions.”
Entrepreneurs requiring further information about Enterprise Loans East Midlands can either visit www.enterpriseloanseastmidlands.co.uk or telephone 0845 602 7355.