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SMEs in the region can now access a new £2.25 million loan fund which aims to assist new or growing businesses that are unable to fully finance their borrowing needs from banks and other traditional sources.
The Regional Enterprise Loan Fund (RELF) is managed by leading regional enterprise agency Entrust, in partnership with the North East Business and Innovation Centre and Finance Tree, on behalf of One NorthEast.
The fund is looking to lend £750,000 per year, to developing regional enterprises during the next three years with the overall aim to encourage new business start-up, enhance current business growth, create new jobs and generate more economic value in the region.
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