£40m loan fund to help North East's SMEs

A new £40m private capital loan fund has been launched to boost the growth of small businesses in the North East. Enterprise Ventures SME Loans will provide up to £1m to established and ambitious SMEs in all sectors. The fund has been set up by Enterprise Ventures, with backing from Santander UK and Greater Manchester Pension Fund. Chief executive Jonathan Diggines said: 'The backing by Santander UK plc and Greater Manchester Pension Fund supports our aim of providing better access to finance for small businesses and their commitment is highly innovative.' Damian McGann of Santander UK Corporate & Commercial said: 'SMEs need access to multiple sources of finance; our support of Enterprise Ventures allows us to fill a gap in the market and provide a breadth of innovative solutions for all ambitious SMEs.'


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