Finance Birmingham to close deals worth 7m
Thu, 20th November 2014

Finance Birmingham to close deals worth £7m

Finance Birmingham has said it would provide a further £7m to expanding companies before the end of 2014 after revealing it has completed deals worth £5m in the past three months.

Since August, the funding provider has awarded £5m to six companies, creating 131 jobs and safeguarding a further 116.

The six companies supported include retail design business Green Room, commercial lighting specialist, Lightsense UK and property maintenance company Nationwide Property Assistance.

It now expects to supply a further £7m to businesses before the end of 2014, which it hopes will support and safeguard a further 409 jobs.

"We have had a phenomenal run of funding deals in the last few months, building on our success in securing flexible funds and a number of new appointments to the team," said chief executive Sue Summers.

"While Finance Birmingham's focus has traditionally been on supporting local companies, our track record and growing expertise is seeing us entrusted with national funds, meaning we are now able to support businesses across England. We expect to help many more companies grow before the year is out."

Andy Street, chairman of the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), which provides funds to Finance Birmingham, added: "Confidence is returning to the region's businesses and spurring them on towards ambitious growth plans.

"This ambition must be supported if we are to realise our potential as a global business destination and create highly skilled and sustainable employment opportunities for our young and growing talent pool."

Finance Birmingham has almost £80m available to expanding companies.

category Midlands  |  source Insider Media