07.04.03
Finance Cornwall sponsors funding seminar

Small businesses across Devon and Cornwall are being invited to a free seminar next week to learn more about the different types of funding available to help them expand and grow.

Finance Cornwall, the £20 million investment fund for businesses in or locating to Cornwall, is sponsoring the event, which has been organised by the Federation of Small Businesses.

Robin Teverson, Chief Executive of Finance Cornwall, who will be speaking at the seminar, said: “One of the biggest barriers to growth for small firms is not being able to secure the necessary funding. This might be because the business is too small, it does not have a sufficient track record of trading, the balance sheet is weak or it does not have enough collateral.

“Next week’s seminar will bring together a wide range of potential funders to outline what they can do to help. Finance Cornwall has already generated more than half a million pounds of investment for a number of Cornish companies and I’ll be explaining how we can broker deals among different funders to create the right investment package for individual businesses.”

Finance Cornwall operates three different funds providing loans and equity investments ranging from £5,000 up to £650,000 to viable small and medium-sized businesses that cannot source all the funding they need from elsewhere.

Funding is available to businesses whose principal place of operation is, or will be, in Cornwall or the Isles of Scilly. The funds are managed by Alliance Fund Managers Ltd, which is regulated by the Financial Services Authority in the course of investment business.

Richard Newman, Cornwall FSB chairman, said: “This event is the latest in a series of seminars organised by the FSB to provide free and impartial advice to local businesses. By assembling all the leading funders in one place, businesses can come along and talk about their needs without having to trawl the High Street. Our aim is to improve the quality of business advice.”

The event, which is open to all businesses, takes place at the St Mellion Hotel, Golf and Country Club in South East Cornwall on Tuesday, April 15 from 7.30pm.

For further information contact:
Robin Teverson
Chief Executive
Finance Cornwall
01872 272288
www.financecornwall.co.uk

Editor's notes:

Finance Cornwall background

Finance Cornwall is a £20 million investment fund which is backed by £9 million from the Objective One European Regional Development Fund.

Finance Cornwall provides loans and equity investments ranging from just £5,000 up to £650,000 to small and medium-sized businesses in or locating to Cornwall and the Isles of Scilly that find it difficult to find funding from other sources.

The three funds are:

Business Loan Fund: loans from £5,000 up to £50,000 for viable, privately owned small and medium sized enterprises in Cornwall and Scilly whose funding needs cannot be fully met from other sources.

Mezzanine Loan Fund: loans from £50,000 to £250,000 with equity options for viable, privately owned small and medium sized enterprises in Cornwall and Scilly whose funding needs cannot be fully met from other sources.

Equity Fund: equity investment of between £50,000 and £500,000 for viable, privately owned small and medium sized enterprises in Cornwall and Scilly whose funding needs cannot be fully met from other sources. Attractive to businesses that have exhausted alternative loan or private resources but still need additional funds for growth.

Finance Cornwall funds are managed by Alliance Fund Managers Ltd, which is regulated by the Financial Services Authority in the course of investment business.

Jason Clark
Communications Manager
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Tel: 01872 241379
Fax: 01872 241388
jason@dclark.co.uk

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