New £3m funding scheme launches to boost Blackpool and Fylde Coast businesses
A new initiative to help small businesses, start-ups and charities access vital growth funding has launched in Blackpool.
Business Funding Blackpool – Funding the Fylde Coast, based at The Robinson on Church Street, will provide access to £3 million in finance made available through its parent organisation, Business Finance North West.
The scheme is designed to support entrepreneurs, social enterprises and community organisations that have struggled to secure backing from traditional lenders.
The new service was encouraged to set up on the Fylde Coast by Business in the Community’s Blackpool Pride of Place Partnership, with the support of one of its board members, Lloyds Banking Group.
The official launch took place at the Blackpool Tower Ballroom, bringing together business and charity leaders from across the region, including representatives from Pink Link, the Blackpool Business Leadership Group, the Federation of Small Businesses, Blackpool Council’s Blackpool Unlimited, the Fylde Coast Responsible Business Network, and others who helped encourage Business Finance North West to expand its operations into the town.
Cllr Mark Smith, Blackpool Council’s Cabinet Member for Economy and Built Environment, said the funding would help fill a crucial gap for local firms.
He said: “We have some fantastic businesses in Blackpool that we want to grow so they can hire more people and help us make Blackpool better.
“The council supports start-up loans and offers net-zero and growth advice, but this fills a vital funding gap that allows companies to expand in an affordable way, without relying on big banks.”
John Fallon, Chair of the Blackpool Pride of Place Partnership, said the initiative would help bring new opportunities to the area.
He said: “We’re thrilled to work with local business leaders and Lloyds Banking Group to offer entrepreneurs the chance to innovate, build, and grow in Blackpool and along the Fylde Coast.”
Chris Sood-Nicholls, Managing Director for Regional Development Sustainability and ESG Finance at Lloyds Banking Group, said the launch was “a testament to what can be achieved when local partnerships and national commitment come together.”
He added: “By supporting Community Development Finance Institutions, we’re helping make finance more accessible for businesses and social enterprises, and supporting the Fylde Coast’s ambition to be a vibrant, inclusive and innovative place to live, work and grow.”
Stephen Waud, Chief Executive of Business Finance North West, said he was delighted to bring the organisation’s model to the area.
“We’ve spent more than 20 years helping businesses across the North who were turned down by traditional lenders,” he said.
“That’s not because their ideas weren’t good enough, but because they lacked the assets or postcode that banks wanted.”
Andy Charles, Blackpool Pride of Place Director at Business in the Community, said the initiative would help ensure no organisation was left behind.
He said: “This will benefit businesses, charities and social enterprises across the Fylde Coast, helping them to access the funding they need to grow and create jobs.
“It shows the impact that strong business partnerships can have on local communities.”
Businesses interested in applying for support can find out more at www.financenw.org or contact Simon Truby on 07368 208922 or Ronnie Harris on 07593 574476.