ERDF boost for loan finance to community enterprises in the North West

The Social Enterprise Loan Fund (TSELF) wants to hear from social/community enterprises in the North West with innovative business ideas after being awarded money by the European Regional Development Fund (ERDF).
The ERDF funding will enable TSELF to provide loans of up to £50,000 for social/community enterprises across the region as part of the Government’s Solutions for Business scheme. However, applications of up to £250,000 for the right proposal can be considered, with TSELF making up the difference from its own funds.
Roy White, North West Regional Director at TSELF, said: “The work of social/community enterprises is invaluable. This is a vibrant sector in the North West which we want to see grow. The grant from the ERDF is a great boost, and we are looking forward to working with more social enterprises and charities across the region.
“We are particularly keen to hear from organisations that are exploiting innovation and knowledge. We have the funds available to support innovative enterprise ideas which can be translated into economically valuable products and processes, generating turnover, market share and new employment opportunities.”
The Social Enterprise Loan Fund (TSELF) is a Community Development Finance Institution (CDFI) and a registered charity which has, to date, invested £8 million in social/community enterprises across the UK, helping clients to generate job opportunities as well as training places.
TSELF has until March 2013 to lend the ERDF money to social enterprises across the region.

For further information and to find out more about TSELF in the North West, click on the link below or call 01829 261019.