Finance Cornwall now offers up to
Finance Cornwall can now invest up to £1 million of
its own funds in Cornish businesses looking to expand.
The Truro-based business finance company, which is a £20
million investment fund backed by £9 million from the
Objective One European Regional Development Fund, has abolished
the previous limit of £650,000 to enable it to support
even more local businesses.
And in a further move, Finance Cornwall has removed its minimum
investment threshold of £5,000 for its Business Loan
Fund and streamlined the application process, allowing it
to support more businesses that only require modest investment.
Robin Teverson, Chief Executive of Finance Cornwall, said: "Removing our minimum threshold and raising the ceiling
on the maximum we can invest means we can serve as broad a
market as possible. Both these moves have been in response
to demand. At the lower end of the scale we are seeing many
small businesses that only require small sums, so we've removed
the £5,000 minimum and made the application process
simpler. At the top end we are seeing more and more potential
deals nearer the £1 million mark, so we've adjusted
our funds to reflect that and can now offer up to £1
million ourselves through a combination of debt and equity.
This is significantly above our previous limit of £650,000."
Finance Cornwall offers a wide range of financial solutions
from straightforward loans through to venture capital for
Cornish businesses looking to develop, whether it's starting
up, buying, selling or growing.
To date, it has invested £1.7 million in 30 local businesses,
helping to attract almost £10 million in additional
funding from other sources, creating an estimated 235 jobs.
Investment decisions are made by a team of locally-based
professionals who understand the needs of Cornish businesses,
and Finance Cornwall's fund managers work closely with mainstream
funders and advisers across Cornwall and the Isles of Scilly.
For more information visit www.financecornwall.co.uk
Finance Cornwall background
Finance Cornwall is a £20 million investment fund backed
by £9 million from the Objective One European Regional
For more information contact:
Deborah Clark & Associates Ltd
Objective One Communications
Objective One Partnership Office
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01579 370991
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