News: Steel money expands
More companies in the region can now access growth funding as local investor UK Steel Enterprise extends both its operational boundaries and the amounts it will invest across the UK steel areas. At a time when finance from traditional sources may be difficult to access, UK Steel Enterprise is raising its maximum investment to £750,000 and also expanding the local area that it invests in. Regional Manager Keith Williams explained: "We already provide equity and loan funding to businesses based in Sheffield and Rotherham but we have now decided to expand the area to cover the whole of South Yorkshire and Humberside, as well as Chesterfield and Worksop. "Raising our maximum investment will also help us provide equity based finance in bigger deals which can potentially have greater impact on the local economies in which we operate." UK Steel Enterprise has already financed over 2,600 companies, which are estimated to have created 58,000 new jobs. The company, a subsidiary of Corus Group, focuses on manufacturing, industrial and technology businesses. As well as providing equity based investments of up to £750,000, the company will continue to provide loans of up to £50,000 for smaller businesses and SFLGS loans (ie loans part guaranteed by government) for eligible businesses.
Rotherham
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