Start Up Loans, part of the British Business Bank, has appointed South West Investment Group (SWIG Finance) as a regional 'business support partner (BSP).'
SWIG Finance, which has offices in Truro, Exeter and Bristol, will work with the firm to provide funding and support for small businesses in the South West over the next two years. The company has worked with Start Up Loans since 2012 providing 3,300 entrepreneurs access finance worth over £35.3m to develop their businesses.
The has scheme delivered over 8,000 loans worth more than £80m to businesses in the region and its delivery partners have "always been critical to its success."
Richard Bearman, managing director, Start Up Loans, said: “I am delighted to announce that SWIG Finance has been successful in securing the contract for loan delivery in the South West, and will be fundamental in helping us ensure that anyone wanting to start a business has the opportunity to do so, regardless of their economic or social background.
“We are incredibly proud of the success of the scheme since 2012 and the choice to review the partners we work with has been undertaken to offer new businesses the chance to compete for the work. It will ensure the scheme is working with partners that provide the best possible support to those who need it. In particular, our new BSPs will help us deliver our ambition of providing a market leading split 50/50 split between male/female loan recipients”.
John Peters, managing director, SWIG Finance, added: “Start Up Loans is a unique resource for start-ups and newer businesses, as it directly combines no-cost, hands-on advice with access to finance. It is vital that new ventures get to grips with their finances at an early stage and this is what the scheme helps to do. I’m incredibly proud that SWIG Finance has been successful in becoming the South West’s partner, and we can now look forward to supporting even more of our region’s entrepreneurs.”
Start Up Loans’ new cohort of regional BSPs have been chosen to provide localised support for businesses in each nation and region of the UK, "so that entrepreneurs have the best chance of fulfilling their potential regardless of their location."
Earlier this year the not-for-profit business finance provider announced a number of changes at board level as part of a restructure.
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