Fledging businesses in the Black Country struggling for finance as a result of the credit crunch are being offered help with their funding by The Black Country Reinvestment Society.
The society, which has recently expanded into new offices at Wolverhampton Science Park, has £500,000 available to loan to businesses by the end of November.
The BCRS, which this year plans to lend £1.5 million to small businesses and entrepreneurs in the Black Country and Southern Staffordshire, has established a funding stream with Birmingham-based Unity Trust Bank. The additional funding is available for loans up to £50,000.
BCRS chief executive Paul Kalinauckas said: “With the ongoing credit crunch, we are seeing an upsurge in loan applications being declined by banks.
“We see ourselves as an antidote to the credit crisis.”