A scheme that helps small local businesses access finance in Mid
Suffolk has been so successful, it is nearly full.
Mid Suffolk District Council has been running a loan scheme in
conjunction with the Needham Market branch of Barclays Bank to help
many small local businesses access finance.
Whilst the scheme has been running for over 10 years, the recent
recession has meant that demand has been running so high that the
scheme is nearly fully committed.
Currently 14 local businesses have capital loans totalling over
£357,000 to help them grow and expand, with Mid Suffolk District
Council subsidising part of the interest payments for the beginning
of the loan period.
Cllr Lesley Mayes, portfolio holder for Stowmarket and rural
regeneration said: “We are proud to be doing all we can to support
our local small businesses through a very tough time for
them. Economic growth and resilience in our district is a
priority for the council and we will continue to do all that we
can.”
Steve Abbott, Local Business Manager from Barclays Bank said:
“The district council’s loan interest rebate has been particularly
useful in helping Barclays support local businesses both start up
and expand. We are delighted that the scheme is so
popular. In all cases the interest rebate has made a big
difference to the businesses concerned helping them to reduce their
costs at a critical time and support their on-going cash flow”.
One of the businesses assisted, Suffolk Farmhouse Cheeses of
Creeting St Mary said: "We found the scheme so helpful when
we needed funding to support our growing traditional cheese
making business. "
Mid Suffolk District Council also offers advice for businesses
on other funding opportunities. More information can be found on
our website:
www.midsuffolk.gov.uk/business
or by telephoning 01449 724635 .
-ENDS-
Media contact:
Mid Suffolk District Council - Vicky Smy, Senior Communications
Officer, telephone: 01449 724850, email:
vicky.smy@midsuffolk.gov.uk
Barclays Bank - Steve Abbott, Local Business Manager in the Suffolk
& Waveney Team, Barclays Bank, telephone: 01449
623040
Suffolk Farmhouse Cheeses - Katherine Salisbury, telephone :
07931 512790 or email:
enquiries@suffolkcheese.co.uk