BUSINESSES in Wyre Forest who are seeking a development loan can now apply to a Worcestershire firm.

Impetus, one of 20 Community Development Financial Institution’s (CDFI) in the UK, aims to provide enterprise financing to help businesses expand and prosper.

Steve Williams, fund manager, said: “If you own or you’re involved in an established regional business, you may have an opportunity or strategy for future growth including a clear picture of the finances you need for this.

“However, as many businesses are discovering, getting a development loan nowadays to support perhaps a tender bid, investment in new equipment or to cover recruitment costs, is not as easy as it once was.

“Many loan requests, even those that show clear progression to a profitable return, can still be turned down by banks, building societies and other lenders.

“As a social enterprise, Impetus is here to fill that gap and we’re best able to help local SMEs with ten to 60 employees or even more.”

A loan of up to £100,000 is available per organisation, with supported county businesses including a forensic science company, a coffee based vending services company, a recycled packaging manufacturer, a business that turns used whiskey barrels into garden furniture and wine racks, a marketing company, a plastic recycling business and a company selling data management systems.

Mr Williams added: “We are very flexible and we welcome applications from just about any business sector.

“This includes manufacturing, engineering, catering, leisure, computing, electronics, communications, energy, healthcare, procurement, recruitment and financing, to name just a few.”

For more information, call Steve Williams on 01386 556000 or visit impetus-marches.co.uk