Business Secretary Endorses New Access To Finance Scheme

Business Secretary, Vince Cable put the official Government seal of approval on a new Access to Finance Scheme during a visit to UK Steel Enterprise.

The Government’s Regional Growth Fund (RGF) has contributed £1.2m to a new £4m Access to Finance Scheme set up by UK Steel Enterprise, one of the beneficiaries in the third round of RGF funding.

The Business Secretary met UK Steel Enterprise Regional Managers Keith Williams and Simon Hamilton to talk about the benefits of the new fund which will provide finance to growing businesses in areas such as South Yorkshire, Humberside and the West Midlands.

Vince Cable was told about businesses already showing interest in the new scheme as well as hearing about a number of UKSE business success stories.

“The Access to Finance Scheme is enabling us to provide a wider range of finance including combinations of equity, loan and grant funding,” explained Keith Williams. “We can provide growth finance of between £25,000 and £750,000 and the RGF support will give a real boost to businesses looking to expand and create jobs.”

The scheme is available in the following areas:  South Yorkshire, Chesterfield, Worksop, Humberside, Gainsborough, the Black Country, Stoke-on-Trent, Tees Valley, Hartlepool, Consett, West Cumbria and Corby.

Details of UK Steel Enterprise’s support for business, including the new Access to Finance Scheme, are available by calling 0800 915 1188.