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<p>We are working hard to support businesses and entrepreneurs across the UK, to ensure
they can access finance and support to grow and that the right conditions are in place
for companies to invest for the long-term.</p><p> </p><p>For the 12 month period up
to end of September 2017, the Start Up Loans programme provided 30 loans to businesses
in Telford & Wrekin totalling over £325,000, of which 20 loans were to businesses
in the Telford constituency totalling over £169,000In addition, the Government has
funded the provision of tailored advice and support for start-ups and SMEs in each
Local Enterprise Partnership area and in Telford this is through The Marches Growth
Hub.</p><p> </p><p> </p><p>Telford constituency is also part of the Midlands Engine.
A key part of the Government’s strategy for fuelling growth in the region is the £250m
Midlands Engine Investment Fund (MEIF), which was launched on 22 February and is a
result of close collaboration between the British Business Bank, the Department for
Business, Energy and Industrial Strategy, the Ministry for Housing, Communities and
Local Government and 10 Midlands Local Enterprise Partnerships (LEPs). It aims to
transform the finance landscape for smaller businesses in the Midlands, accelerate
economic growth and promote job creation.</p><p> </p><p>Finally, my Rt. Hon Friend
the Chancellor announced in the Autumn Budget that we are extending the British Business
Bank’s Enterprise Finance Guarantee to March 2022 and expanding the programme to support
up to £500 million of loans per annum.</p>
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