MSIF hits Â£1m investment milestone
MSIF has hit a milestone and has now pumped £1m into 150 new businesses in the Merseyside area with investment through the Start Up Loans scheme.
The government-backed programme was launched in September 2012 and MSIF was appointed as a delivery partner in January last year.
"We saw the Start Up Loans programme as a great fit to our existing offering," said MSIF's chief operating officer Lisa Greenhalgh.
"Many of the businesses we have supported through this fund have gone on to expand and we can then support them through our other funds as they mature and grow.
"There has been a huge amount of applications for Start Up Loans funding and we’ve expanded our team to cope with the demand."
Greenhalgh said initially the Start Up Loans Programme was aimed at supporting people under 30 and, although the age cap has now been removed, it was still funding a lot of young entrepreneurs.
"It is has been very difficult for start-up businesses to access funding in recent years but these companies are vital to the local economy," she added.
"We are really pleased that we have been able to support so many start-ups in the last 18 months, most of which would not exist without this source of funding."
Yasmina Siadatan, creative director at The Start Up Loans Company, said: "We are proud to have helped 150 new businesses start in the Merseyside area. This is just a snapshot of the success of the scheme.
"With over 20,000 businesses now started, we're delighted to see that entrepreneurs in the North West are playing their part."