Start-ups and small businesses struggling to access finance are being urged to apply for special business loans specifically designed to meet their needs.
The Fredericks Northamptonshire charity, a joint project set up by Northamptonshire Community Foundation and the Fredericks Foundation, provides business loans and a mentoring service to people who are unable to obtain the necessary support through conventional channels such as banks.
Daventry District Council has given the Foundation £12,000 from its Second Homes Fund to help support start-ups in the district.
And entrepreneurs with ideas for new businesses are being urged to contact the Fredericks Foundation to see if they could benefit from one of the loans.
Councillor David James, Economic, Regeneration and Employment Portfolio Holder, said: “The aim of the funding is to give start-ups and small businesses the assistance they need to grow, supporting the District’s business economy and developing new job opportunities
“And because the repayments are recycled into new loans, we estimate our £12,000 donation will generate more than £35,000 worth of loans for new and expanding small firms over the next 15 years.
“It’s a win-win, and we would love to see some promising entrepreneurs in our District coming forward with some great ideas to put the money to good use.”
For more information visit www.fredericksfoundation.org/northamptonshire or phone 01604 866447.