Greater Manchester Combined Authority (GMCA) has allocated a limited £10m fund to specifically support support small and medium-sized organisations (SMEs) in Greater Manchester struggling to access Bounce Back Loans (BBLS).
Social impact lender Growth Company Business Finance (GCBF) are managing the emergency funding which will enable eligible organisations to borrow between £2,000 and £50,000 for up to six years.
The loans, which are 100 per cent guaranteed by the Government, are estimated to be eligible for approximately 98 per cent of Greater Manchester SMEs, including Voluntary, Community and Social Enterprise (VCSE) organisations.
GCBF has seen huge demand for funding since being accredited in November 2020, with 400 jobs secured as a result of loans provided in the local area. With only a limited time available to secure the funding, GCBF is now calling for any eligible organisations in Greater Manchester to apply for a Bounce Back Loan.
For more information on BBLS funding, and to check your eligibility, visit the GC Business Finance website here.