SMALL BUSINESSES INVITED TO LEARN ABOUT FINANCE CORNWALL

Small businesses are being invited to come along and hear more about the Objective One funded Finance Cornwall, the £20 million loan and investment for Cornish businesses looking to expand, at a presentation next week.

Robin Teverson, chief executive of Finance Cornwall, will be at the Launceston offices of Enterprise Tamar from 11am on Monday, November 11, where he will outline Finance Cornwall’s three separate funds and how they can help local businesses.

Finance Cornwall, which was officially launched in September by Sir Eddie George, Governor of the Bank of England, provides loan and equity funding from as little as £5,000 up to a maximum £650,000.

The funds are aimed at viable small and medium-sized businesses that cannot source all the funding they need from elsewhere. 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 the business does not have enough collateral.

John Coles, a business adviser at Enterprise Tamar, said: “Finance Cornwall offers a an unusual range of finance options that are not available elsewhere and we’re keen that businesses in this part of Cornwall come along to learn more about what’s available.

“Enterprise Tamar deals with businesses employing up to five people in an area stretching through North Cornwall and Caradon, ranging from pre-start right through to established businesses looking to expand. This is an area with a lot of rural and quite isolated businesses so we want to ensure they know what Finance Cornwall can offer.”

Robin Teverson, chief executive of Finance Cornwall, said: “This event provides an opportunity to outline what we are about and how we might be able to help. We’ve already had well over 100 enquiries from businesses of all shapes and sizes in Cornwall and beyond, and we’re very encouraged by the demand we are seeing.”

Finance Cornwall expects to create more than 2,000 jobs and assist some 400 businesses in Cornwall and the Isles of Scilly in the next five years. It is funded by Objective One, Barclays Bank and Cornwall County Council.

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

Next week’s event is at the offices of Enterprise Tamar, in the former National School, St Thomas Road, Launceston, from 11am. Businesses wishing to attend are asked to contact Enterprise Tamar on 01566 775632.

For more information contact: John Coles Enterprise Tamar 01566 775632