Approximately £650,000 has been awarded in the latest round of the Northwest Transitional Loan Fund (TLF), the programme aime at helping businesses from across the region obtain finance in the absence of conventional commercial sources.
The £10m TLF programme, which is co-funded from the European Regional Development Fund (ERDF) the Northwest Regional Development Agency (NWDA), agrees Loans of £50,000 to £250,000 to established small and medium enterprises (SMEs) facing a temporary shortfall in their working capital due to the credit crunch and the global economic downturn.
The Seven companies, which have been awarded loans in the latest round of funding include:
• Wolfe Designs Ltd, Leyland – £95,000
• Nurock Ltd, Knowsley – £75,000
• Merseyside Metalworks Ltd, Liverpool – £150,000
• Siltint Industries Ltd, Manchester – £75,000
• A1 Doors, trading as Mandor, Ashton-Under-Lyne – £80,000
• Jaftextil Soft Furnishings Ltd, Bolton, £100,000
According to a NWDA statement, an additional £75,000 has been provided to a Stockport-based company.
For further information, visit the website www.businesslink.gov.uk/northwest