Partner Article

Law firm helps boost regionâ??s SMEs

Law firm Ward Hadaway is playing its part in helping the region’s small businesses to access funding. The Newcastle-based firm provided legal advice to regional enterprise agency Entrust on the Regional Enterprise Loan Fund (RELF).

The £2.25m fund aims to help new and growing businesses across the North East. It is looking to lend £750,000 a year to developing regional enterprises over the next three years.

Entrust aims to assist between 150 and 175 businesses with RELF funding via unsecured loans from £3,000 to £25,000, repaid in one to three years. It will also offer guidance, support and encouragement via its network of business mentors.

Damien Charlton, partner in the company’s commercial team at Ward Hadaway, said: “New and growing enterprises are the lifeblood of any regional economy so it was very gratifying for Ward Hadaway to be able to offer its expertise to help launch the Regional Enterprise Loan Fund.

“Entrust and its partners are passionate about encouraging enterprise and growing the region’s business base and RELF is positive proof of their determination to achieve their goals.”

Ian Mudie, Regional Enterprise Loan Fund Manager, said: “The Fund has attracted a great deal of interest from businesses in the North East since it was launched at the end of May and six loans have already been approved.

“Applications have been received from a broad spectrum of businesses whose activities range from computer software to the manufacturing of safety procedures to training.”

The Regional Enterprise Loan Fund is part of a package of financial solutions offered by Entrust to the North East’s SMEs. For more on Entrust and the RELF, go to the Entrust website.

This was posted in Bdaily's Members' News section by Ruth Mitchell .