Business, Enterprise and Regulatory Reform written question – answered at on 2 June 2009.
To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what recent steps the Government has taken to fund small business growth.
holding answer
On
The £1.3 billion Enterprise Finance Guarantee supports lending to viable businesses that would otherwise not be available. As of
With respect to the £75 million Capital for Enterprise equity scheme, the appointed fund managers have now made offers totalling around £6 million to four businesses and are continuing due diligence on the further proposals that have been put forward. The Working Capital Scheme, though not available directly to businesses, enables participating banks to increase the amount of working capital they can make available to businesses with a turnover of up to £500 million.
We are also working with UK banks and the European Investment Bank (EIB) to maintain existing lending and make more credit available to SMEs. With the EIB, Government have helped UK banks to negotiate credit lines of more than £1 billion to provide loans to small and medium businesses. In addition the UK is the first country in the world to have negotiated legally binding lending commitments with banks receiving state support. RBS and Lloyds have committed to £39 billion of additional lending over the next 12 months; at least £6 billion of this is to SMEs. Both agreements are already in effect.
Small and medium-sized businesses can find information and support at:
Yes1 person thinks so
No0 people think not
Would you like to ask a question like this yourself? Use our Freedom of Information site.