505 Stockport businesses have benefited from Start Up Loans scheme

The Start Up Loans programme, delivered by the British Business Bank, has seen 505 new businesses in Stockport benefit from £4.95 million since its launch in 2012.

Stockport’s 505 loans contribute to the more than 12,300 start up businesses in the North-west to be accessed finance through the scheme, which has seen £113 million invested in the region’s economy over the last ten years. Loans to the North-west make up 12% of the national picture.

Of the North West’s total loans, 39% have been to women and 9% to people from Black, Asian and Other Ethnic Minority backgrounds (not including White Minorities). Young people between 18-24 years old have received 15% of loans since 2012.

Since launching in 2012, the Start Up Loans scheme has now seen over 100,000 businesses take up the government backed funding offer from the British Business Bank.

Dr Sophie Dale-Black, UK Network Director for the North of England at the British Business Bank said:

“At the British Business Bank, we remain committed to addressing regional imbalances in access to finance. The success of the Start Up Loans programme across the North is testament to the strength of the businesses across the region. In the North West, we’re proud to have supported a range of businesses, including those in Stockport, and look forward to watching them grow in their entrepreneurial journeys.”

Richard Bearman, Managing Director, Start Up Loans said

“Start Up Loans supports people across the UK who are looking to start their own businesses, and passing our one hundred thousand loan milestone is an amazing achievement that has been ten years in the making. We could not have achieved this without the dedicated support of our UK Network of delivery partners, and in-house team and I’d like to take this chance to thank them for everything they do to make our work possible.”

Small Business Minister Kevin Hollinrake said:

“It’s great that 12,382 of businesses across the North West have had the support of a Government-backed Start Up Loan. Thanks to these loans, and the advice and guidance they come with, over 100,000 firms across Britain now have a brighter future. This government will always stand with small businesses in the North West and across the UK.”