The business loan service was set up by Stoke-on-Trent City Council and Black Country Reinvestment Society (BCRS) in June with an initial loan fund of £200,000 to provide loans of between £10,000 and £50,000 to Stoke-on-Trent businesses who are having problems getting the funding they need from traditional sources.
Ceramics firm Camal Enterprises based in Chatterley Valley, near Tunstall, has secured £50,000 from the Stoke-on-Trent Business Loan Fund and has used the cash to create two new jobs.
Camal, which is based at the Genesis Centre at the North Staffordshire Business Park, employs 12 people. The firm has developed its own range of traditional figurines and tableware called English Ladies, which is designed here but made in Thailand and Vietnam.
Speaking at the launch event in june Paul Kalinauckas, Chief Executive of BCRS, said
There is a lot we can do to help businesses out there and we are looking to connect with them as their local business loan fund. The BCRS model is of an approachable lender and we assess each individual case on its own merits. We operate very much with a traditional lending ethos rather than impersonal computerised credit scoring and recently achieved 100% in our customer satisfaction survey.
Any Stoke on Trent business wishing to apply for a loan should contact BCRS on 0845 313 8410 or online at www.bcrs.org.uk where BCRS will aim to give a quick response through the fast track online application facility.