Member Article

Birtley business enterprise to fund North East startups

Birtley-based business enterprise, Pinetree, is set to promote new funds to boost the number of startups across the region, to help accelerate growth among small firms.

Managing funds of more than £563,000, Pinetree is able to offer loans of up to £25,000 and grants of up to £2,500 to individuals or businesses.

Pinetree, previously known as Northern Pinetree Trust, has streamlined operations to put greater emphasis on an advisory team, providing support and finance to individuals and businesses who need help to grow.

With a seven-strong team of business advisers, working in tandem with a pool of coaches, Pinetree is now thought to have the largest team in the region of its kind.

The team’s services include business support, access to finance and managed office space.

Pinetree’s new focus coincides with significant investment in the Pinetree Centre, the organisation’s managed office space, along with a refresh of the name and corporate identity.

Based within the Pinetree Centre in Birtley, the enterprise agency has a broad remit to support businesses and individuals but particularly those with complex needs, living and working in some of the region’s more disadvantaged communities.

Since 1991, Pinetree has been working to help a range of clients that include students, unemployed individuals, ex-offenders, people with physical and sensory disabilities, ex-service personnel, people aged 50+ and those individuals and businesses who have been refused mainstream finance.

More than 3,000 individuals and businesses have received some level of support from Pinetree since 2010 although this will now be accelerated.

Chairman of Pinetree, Phil Shakeshaft, said: “We are entering an exciting time in the organisation’s development.

“We now have significant loan and grant funds in place to make a difference and really help start-ups and existing businesses as we emerge from the recession.

“While other financial institutions are reluctant to lend, Pinetree is very much open for business and wants to hear from people with a business idea and plan.”

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