Funding advice and guidance for young entrepreneurs from Start-Up Loans Programme provider

CHRIS Walters, from Merseyside Special Investment Fund (MSIF) will be a panellist at 2 upcoming events being run by the Federation of Small Businesses focusing on small business finance and tax.  MSIF has been awarded a contract to deliver start up loans through the Government's £112.5 million Start-Up Loans Programme for young entrepreneurs.

Chris will join other panellists including Liverpool branch Chairman and financial expert Brian Sweeney, FSB member Nick Montague of FundingStore and branch treasurer Andrew Geddes, of TaxAssist, to field questions at the Sefton and Ormskirk event at The Old Printworks, Park Road, Ormskirk, on Monday, 25 February 2013.  MSIF will also join the panellists at the Wirral branch event being held at the Merebrook Hotel, Bromborough, on Monday, 18 March. 

The Federation is calling for questions to be submitted by both members and non-members who wish to attend the events by contacting Merseyside, West Cheshire and Wigan Development Manager Phil McCabe on:- 0151 722 2272, 07917628907 or by emailing:- phil.mccabe@fpb.org.uk.

John Allan, Chairman of FSB Merseyside, West Cheshire and Wigan, said:- "Fewer than 1 in 10 small firms responding to our recent 'Voice of Small Business' index considered credit to be readily available to them, yet both existing firms and new start-ups, including the next generation of entrepreneurs, are tasked with driving economic recovery and growth. As far as access to finance issues are concerned that is what is at stake; the future success of our small businesses and Britain's national prosperity. While there are many barriers, which we the panel and attendees will certainly discuss, it is also important that we focus on potential solutions, such as the Start-Up Loans Programme. I am delighted that MSIF has agreed to provide this guidance, advice and support by becoming a member of our expert panel."

MSIF's Chris Walters said:- "It is vital to the economy that entrepreneurialism is encouraged. However, businesses are finding it very difficult to secure the funding they need to start and grow. Start-up companies especially are struggling to get help from traditional sources.  As well as the Start-Up Loans Programme we also manage two other funds which enable us to offer a diverse range of finance to support a variety of business needs.  I am really pleased to be taking part in this event. It is so important that we raise awareness so entrepreneurs and businesses know that there is financial support available to help them."

Under the Government's Start-Up Loans Programme, which is being championed by former Dragons' Den star James Caan and was recently extended by £30 million and to cover entrepreneurs aged up to 30, when a business plan is approved budding entrepreneurs are able to access a low-interest loan; typically valued at approximately £2,500; with a repayment period of up to five years.

Earlier this month the Government announced that the scheme had secured funding for its 1000th entrepreneur. Having initially issued 500 loans in the first five months of the scheme, more than 500 businesses have been supported in the past five weeks.

As of January, more than £1.5 million in loans had been approved, allowing 460 new businesses to get off the ground. Around 100 new businesses a week were expected to reach approval stage in January, and thousands more in the months ahead.

To book a place at the Sefton and Ormskirk panel event business owners should call Janet Taylor, Branch Secretary, on:- 01704 330872.   Plus more information is available online.