A charity that supports small businesses that have been turned down for loans by banks has announced new funding for companies in the South West.
Fredericks Foundation provides not-for-profit business loans to people struggling to find finance from other lenders because of poor credit or other circumstances.
The foundation has funding to invest in Bristol, Bath, North Somerset, Cornwall, Devon and Wiltshire.
Sole traders, partnerships and limited companies can apply for a loan to support their business 鈥 whether they need cash to get started, capital to expand or funds to bridge a gap.
Duncan Parker, chief executive officer at Fredericks Foundation, said: 鈥淧eople become excluded from mainstream credit for all kinds of reasons, meaning many simply give up their business dreams or resort to borrowing from lenders with unreasonable terms.
'We're determined to level the playing field'
"We are determined to help level the playing field by giving everyone the opportunity to apply for one of our loans and transform their lives by running their own business.
鈥淯nlike the banks, our foundation was set up with social purpose in mind, so we have more flexibility when it comes to who we can lend to and we鈥檙e not in it to make a profit.
"We鈥檙e determined to extend our support to more people so we鈥檇 encourage anyone who鈥檚 already been turned down by the bank to come to us to see if we can make their business proposition a reality.
鈥淲e鈥檝e helped people to set up and grow all kinds of businesses across England and Wales over the past 18 years and we鈥檙e really proud of the impact this has had on the lives of our applicants, their families and their communities.鈥
The Fredericks Foundation support team provides step-by-step guidance on how to apply and offers mentoring, practical business advice, networking and links with the local community to help grow the business after the investment.聽
For more information or to apply visit fredericksloans.co.uk or call 01276 472722.
