Recession-busting loans totalling £800,000 have been granted by Birmingham City Council to four local firms.
The loans are part of an £11 million package of financing to help companies with viable business plans who since the collapse in the banking industry have found themselves unable to access funds from banks which would have previously been available to them.
The aim is to help companies expand into new markets and create jobs.
The four successful firms are:
• Install Automation, a Jewellery Quarter business manufacturing household appliances and energy and heating systems.
• City centre-based CCBT, a firm that helps treat people with depression and obsessive compulsive disorders.
• Digbeth-based animation and video specialists Big Button Media.
• Imaginative Minds in Digbeth, which offers a subscription service for educational magazines and books.
Council cabinet regeneration member, Coun Neville Summerfield (Con Brandwod), said: “All four companies are well established operations which offer great investment opportunities.
“Not only will these loans help them during these testing economic times, but will benefit local people through the creation and safeguarding of jobs.
“These are just the type of businesses these loans were set up to help.
“And if ongoing interest levels from further companies in our loan scheme is anything to go by, I am sure they will just be the tip of the iceberg as regards the support we are able to offer locally.”