finditinbirmingham.com host business loans breakfast

By on 13/08/2010 in News

It's difficult for businesses to get loans through the banks as Birmingham emerges from recession.
 
But Arrow – Small Business Finance, ART (Aston Reinvestment Trust) and Investbx can help local businesses find the finance they need through an innovative programme of loans funded by Birmingham City Council.

finditinbirmingham.com is holding a breakfast networking event, on Thursday September 2, where a representative from each of the organisations will explain to Birmingham and Solihull businesses how they can apply.
 
www.finditinbirmingham.com is a Birmingham City Council initiative which seeks to support the local business community through making supply opportunities more visible.
 
There will be free tea and coffee and a bacon and egg bap for everyone. There will also be a vegetarian option and fruit pastries. Registration will be at 6:45am for this 7-9am event, in Hall 11 of the ICC.
 
Local business owners and managers are booking online now at finditinbirmingham.com.

Delegates can also book a five minute one-to-one session with a representative from one of the lenders at the event by calling Claire on 01384 563050, or emailing info@finditinbirmingham.com. It’s a great chance for them to find out what their business can apply for.

Ends
 
For more details, please email press@finditinbirmingham.com or call Lucy on 01384 563050.
 
NOTES to editors
 
1.     finditinbirmingham.com is a Birmingham City Council initiative which seeks to support the local business community through making supply opportunities more visible.
 
finditinbirmingham makes it easier for Birmingham City Council, Tier 1 contractors and other local businesses to find local suppliers. Whether you want some shelves put up, want to get a website designed or want to buy something - you post the 'opportunity' on the site, and local people email you with quotes.
 
Anyone from any local business can register as a member of the site, and post or tender for opportunities. The business to business trading helps keep the Birmingham pound in Birmingham - and prevents environmental damage caused by buying distant products and services.
 
The site doesn't just make contracts easier to find, though. It also helps local businesses grow to win bigger contracts - by sharing news and information on grants and loans.
 
finditinbirmingham also hosts regular networking events - where business owners can meet the buyers and collaborate to win contracts together.
 
Sign up today at finditinbirmingham.com - to find out what Birmingham's world-class local supply chain can offer you.
 
2.     finditinbirmingham breakfast networking events take place on the first Thursday of the month, and are a great opportunity to network and learn new skills from expert speakers.
 
3.     Arrow – Small Business Finance operates on a not-for-profit basis and is funded by the European Regional Development Fund, Advantage West Midlands and Birmingham City Council. Arrow offers loans from £1,000 – £10,000 to start-ups and existing businesses in Birmingham on an unsecured basis for repayment periods of up to three years with monthly payments of capital and interest. These loans can be used for working capital purposes, to buy equipment or to create or protect a job.

Business owners who have used Arrow include Bahram Sephardar, who used a loan for a marketing campaign to launch his business Chicago Pizza, in Rubery. Kathy Willis, who owns Therma Flex, used a loan to refurbish a factory unit in Tyseley.
 
4.     ART (Aston Reinvestment Trust) lends between £10,000 – £50,000 to businesses and social enterprises in Birmingham and Solihull which need funds to survive or grow, but have been unable to secure them from conventional sources. The loan could be for cashflow or to support a capital investment project. It could be part of a finance package with other financiers, or stand alone. Terms and conditions are more flexible than the banks'. ART is supported by Advantage West Midlands, Birmingham City Council and the European Regional Development Fund.

Glynn Purnell used ART to support the start up of his now award winning, Michelin-starred restaurant Purnell’s in Birmingham. Roger Telphia, Chief Executive of the fastest growing social enterprise in Birmingham, Future Health and Social Care, was helped by ART who partly supported a growth opportunity.
 
5.     Investbx. In January 2010, Investbx – a regional initiative for raising capital for SMEs – and Birmingham City Council launched their Business Loan Fund, a groundbreaking initiative offering a £10 million package of loans to SMEs based in Birmingham. The loan fund supports a diverse range of solid profitable Birmingham companies which have previously been unable to access funding.
 
Investbx acts as agent for the Council to administer and oversee the loan fund.
 
Companies which have received loans include Install Automation, which specialises in state-of-the-art technology and energy monitoring innovation, and Imaginative Minds, a Birmingham publisher of educational magazines and books.

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