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Staffordshire Business Support Fund scheme to get another £1million

Firms across Lichfield and Burntwood could be boosted after the news that an extra £1million will be invested in a loans scheme set up to help small businesses through the economic downturn.

The Staffordshire Business Support Fund was established last November to help keep businesses afloat and protect and create jobs.

Over £600,000 of the original £1million fund has already been allocated – benefiting 22 small businesses with loans ranging from £10,000 to £50,000.

Announcing the additional funding, Staffordshire County Council leader Philip Atkins said:

“We are absolutely delighted with how the first ten months of the Staffordshire Business Support Fund have gone. It’s been a fantastic success. It’s achieved the results we’d hoped for – protecting businesses, jobs and our local economy, which is an absolute priority for us.

“We feel it’s vital to continue to support our small businesses in this way and that’s why we’ve decided to extend the scheme. It’s a real investment in our county’s economy. We look forward to its continued success.”

Half of the money for the new £1million investment will come from European funding with the remainder match-funded by the county council.

Anyone wanting to find out more about the fund should call 0845 313 8410 or visit www.bcrs.org.uk.

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Founder of LichfieldLive and editor of the site.