We have been conditionally awarded a further £40 million portion of the Regional Growth Fund (RGF), in an announcement made by the government today.
The funding is part of the fifth round of the Regional Growth Fund which supports private sector investment to create economic growth and sustainable employment.
Mike Randall, CEO at Close Brothers Asset Finance said: "We were delighted to learn that we've been granted a further major allocation of funds in the latest round of the Regional Growth Fund. It is an excellent scheme that has already given many businesses a financial lifeline and this new award is validation of our commitment to supporting SMEs across the country.
"You only have to consider the figures from our existing round of £15 million of Regional Growth Fund (RGF) funds, to understand its impact. We have already assisted over 250 small firms, helping them to both create and safeguard over 1,000 jobs and we are still delivering these funds to businesses across the English regions," he added.
Mr Randall went on to say: "Funds from this new award will be available later in the year when we have finalised details with the Department for Business Innovation and Skills. "There are conditions that apply to the eligibility of businesses and our representatives are able to discuss all options in order to make the process as easy as possible."
For more information about Close Brothers Asset Finance and the Regional Growth Fund, please contact 01244 459 798.