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<p>The Government is committed to ensuring businesses can access the finance they
need to invest and grow.</p><p> </p><p> </p><p> </p><p>We are setting up the British
Business Bank to make finance markets work better for small firms. Over the next five
years, the Bank aims to unlock up to £10 billion of financing for viable smaller businesses.
The Business Bank funds schemes including Start Up Loans and the Enterprise Finance
Guarantee Scheme.</p><p> </p><p>A breakdown of businesses in the Stafford Constituency
that have been supported by British Business Bank schemes last 12 months are detailed
in the table below.</p><p> </p><p> </p><p> </p><table><tbody><tr><td><p> </p></td><td><p><strong>Enterprise
Finance Guarantee Scheme (EFG)</strong></p></td><td><p><strong>Start Up Loans Company
</strong></p></td></tr><tr><td><p>Stafford constituency</p></td><td><p>7 loans with
a drawn value of £1,051,700</p></td><td><p>16 loans with a drawn value of £59,850</p></td></tr></tbody></table><p>
</p><p>*Data from 01/09/2013-31/08/2014</p><p> </p><p> </p><p> </p><p>The Black Country
Reinvestment Society (BCRS) are a Community Development Finance Institution (CDFI)
serving the Stafford constituency providing credit and funding to local businesses
unable to secure finance from traditional financial institutions such as banks. BCRS
are accredited to provide EFG backed lending facilities and are also a Start Up Loan
delivery partner.</p><p> </p><p> </p><p> </p><p>The Community Development Finance
Association (of which BCRS is a member) have also received Regional Growth Fund support</p><p>
</p><p> </p><p> </p><p>There is one Round 1 Regional Growth Fund project in the Stafford
constituency with a grant of £4 million, leveraging £56.5 million of private sector
investment and creating or safeguarding 1,600 jobs.</p><p> </p><p> </p><p> </p><p>The
grant will assist this project to undertake research and development (R&D) for
the creation of High Voltage Direct Current (HVDC) power transmission products at
a new engineering centre of excellence in Stafford. The project will create 200 jobs
and safeguard 1400 jobs in Stafford and involves a new R&D centre, together with
the installation of technical equipment.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p>
</p><p> </p>
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