The Government today unveiled a multi-billion package of measures aimed at unblocking lending to small firms, including loan guarantees and a new enterprise fund to help companies struggling to access finance. Business Secretary Lord Mandelson said it was "crucial" that the Government acted now to provide help amid warnings that scores of smaller businesses were going bust every day. The measures include a £10 billion working capital scheme, securing up to £20 billion of short-term bank lending to companies with a turnover of up to £500 million. The enterprise fund will be worth £75 million, made up of £50 million from the Government and the rest from banks and will be available for small firms which urgently needed equity.
The Government today unveiled a multi-billion package of measures aimed at unblocking lending to small firms, including loan guarantees and a new enterprise fund to help companies struggling to access finance.
Business Secretary Lord Mandelson said it was "crucial" that the Government acted now to provide help amid warnings that scores of smaller businesses were going bust every day.
The measures include a £10 billion working capital scheme, securing up to £20 billion of short-term bank lending to companies with a turnover of up to £500 million.
The enterprise fund will be worth £75 million, made up of £50 million from the Government and the rest from banks and will be available for small firms which urgently needed equity.
But when Mandelson says it a chill runs down my spine. keep to the Fen Causeway
