The Government is committed to ensuring businesses can access the finance they need to invest and grow.<\/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>
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><\/td> | Enterprise Finance Guarantee Scheme (EFG)<\/strong><\/p><\/td> Start Up Loans Company <\/strong><\/p><\/td><\/tr> Stafford constituency<\/p><\/td> 7 loans with a drawn value of £1,051,700<\/p><\/td> 16 loans with a drawn value of £59,850<\/p><\/td><\/tr><\/tbody><\/table> <\/p> *Data from 01/09/2013-31/08/2014<\/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> The Community Development Finance Association (of which BCRS is a member) have also received Regional Growth Fund support<\/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> 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>"}
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], "answer" : {"_about" : "http://data.parliament.uk/resources/92988/answer", "answerText" : {"_value" : " Small businesses are the lifeblood of our economy and our small business owners have driven this economic recovery. Stafford has benefitted from a number of support schemes. The Start-Up Loan Scheme has provided business advice and 16 loans with a value of almost £60,000 to people starting a business. Since May 2010, 7 companies have benefitted from the Government\u2019s Enterprise Finance Guarantee Scheme with a drawn down value of over £1 million.<\/p> <\/p> <\/p> <\/p> We are committed to making Britain the best place in the world to start and grow a business, and are doing this in a number of ways:<\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p>"}
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