EDEN district councillors agreed to support the setting up of a £500,000 fund to assist with business expansion and development in the area.
The new Eden Business Support Fund is designed to support local businesses that are looking to expand and develop, but may have struggled to get the backing from mainstream lenders, so have had their growth and job creation plans stifled.
Eden District Council’s Planning and Economy Portfolio Holder, Cllr Malcolm Smith, said: “Accessing finance is the lifeblood businesses need to expand and create higher paid jobs. Sadly, the council is only too aware of many instances where well established local businesses have struggled to access the credit they needed to expand and operate successfully."
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