Budding businesses get offer of loan support

(Date of issue: Monday, 29 March 2010)

Low cost loans of up to £5,000 are being offered up to budding Carlisle businesses.

Carlisle City Council has joined forces with CART (Cumbria Asset Reinvestment Trust) to provide a special loan package to businesses based within Carlisle Enterprise Centre and Warwick Mill Business Centre.

The scheme is aimed at businesses which have been hit by the credit crunch and who have been unavailable to access bank or business borrowing.

CART has provided support to over 150 businesses within the county to date. Carlisle based businesses who have benefitted from their support include The Spice Enterprise, Enitiative Media Ltd and Merienda.

Grahame Latus, Chief Executive of CART said:

"We are pleased to be working alongside Carlisle City Council as we both share a common objective to maintain and stimulate enterprise activity in the city and surrounding areas. This new financial initiative will enable those businesses at both centres to readily access capital should they need it, as well as provide an additional incentive for businesses to occupy available space at the centres."

CART is Cumbria’s only Community Development Finance Institution (CDFI) and the only rural CDFI in the north of England. It is a sustainable, independent organisation providing financial services across Cumbria with the aim of creating social improvement and business development returns. Their loans are designed to help new businesses start up and grow, established businesses to expand and develop or to set up social enterprises.

Simon Long, Warwick Mill Business Centre, added:

"We’re delighted to be able to offer the special loan package from CART, it really does, complement our existing office and unit space solutions to business and our commitment to the local community."

For further information about CART and the support it has available to local businesses, visit www.ccart.org.uk