Last week a group of local accountants and bank business advisors attended a meeting at Penrith Town Hall organised by Eden District Council and Enterprise Answers to find out more about the Eden Business Support Fund, which offers loans between £10,000 and £100,000 for qualifying businesses.
The loans are funded from a £500k pot of money created from an equal partnership between Eden District Council and Enterprise Answers, a Community Development Finance Institution who assist businesses who have struggled to obtain finance from mainstream lenders. Eden District Council’s contribution comes from central government allowing the Council to keep a portion of the business rates collected in Eden to promote local economic growth in the area.
The event was designed to raise awareness about the fund among finance professionals in the Eden area who deal with local businesses every day.
During the meeting the group were shown a video about the fund containing examples of two businesses that Enterprise Answers have previously supported in the Eden District; Lakeland Aerials and Four and Twenty Restaurant. The video is available to watch on Invest in Eden’s YouTube account and or on the website.
Ruth Atkinson, Communities Director for Eden District Council said: “The event was a marvellous way to showcase the £500K on offer to local businesses and we are grateful to the accountants and bank advisors whom we met for taking the time and trouble to hear all about the scheme.
“We are certain that they will help us to spread the word amongst their business contacts who are looking to expand and develop their products and services.”
Carol Tindal of Dodd and Co Accountants said: “It was great to hear about an alternative source of funding for businesses in Eden and have the chance to ask further questions about the fund directly to Enterprise Answers.”
The Eden Business Support Fund is one of four key offers that are being promoted by Eden District Council as part of the Invest in Eden initiative. The other offers include free pre-planning advice for businesses, a promise from the Chief Executive and Leader to meet with potential investors within two weeks of a request and a range of procurement support.
Any businesses interested in applying for the Eden Business Support Fund should contact Enterprise Answers on 01768 867 118 or visit www.enterpriseanswers.co.uk .