EUROPEAN BOOST FOR SMALL BUSINESSES
Thursday, 07 January 2016 14:45
Angus MacDonald MSP urges Falkirk businesses to apply for EU funding opportunities
The Member of the Scottish Parliament for Falkirk East, Angus MacDonald, has highlighted a £40 million deal to support local businesses, courtesy of the European Investment Fund and credit facility, IOWCA.
The guarantee scheme will allow IWOCA to lend to small businesses, backed financially by the European Commission.
A small business can apply for funding under the programme at www.iwoca.co.uk, where the risk-platform automatically analyses thousands of data points for each application, meaning local businesses can be approved for up to £100,000 within a few hours.
Commenting, Mr. MacDonald - pictured above in his office at the Scottish Parliament - said, “This is a fantastic boon for those Small and Medium Enterprises (SMEs) and entrepreneurs who need rapid access to finance to grow their business.
"At a time when credit can be hard to come by and cash flow remains the single biggest problem facing business, this scheme might not be for everyone but it has its place, and businesses in the Falkirk area should certainly be aware of it.
"I wish every small business in my constituency well in this new year ahead."