A support fund available for businesses in Fylde and Wyre has a new team in charge of handing out loans designed to spark growth and jobs.
Lancashire County Council has chosen investment specialist GC Business Finance (GCBF) to deliver its £11.25m Rosebud business finance fund.
GCBF replaces Mercia Fund Managers which has run the scheme since its launch in 1986.
Under the new funding package, GCBF based at Cotton Court, Preston, will oversee Rosebud loans from £10,000 to £300,000 for businesses over the next five years.
Rosebud aims to create around 150 new jobs per year and will focus on sectors such as aerospace; advanced manufacturing; digital and creative; energy and environment; health innovation; and financial and professional services.
County councillor Michael Green, cabinet member for economic development, environment and planning, said: “Over the last 30 years Rosebud has helped thousands of businesses across Lancashire to expand by tapping into finance to create new jobs, move premises and invest in technology. We’re incredibly pleased to be able to allocate a further £11.25m pounds to support growing Lancashire businesses to achieve their growth aspirations.”
Andy Walker, head of business growth and innovation at Lancashire County Council, said: “GC Business Finance already works closely with the Access 2 Finance service in Lancashire and has strong relationships with local businesses and the professional services community.
“It will help provide a seamless transition for the delivery of Rosebud finance, helping businesses create employment opportunities, especially the graduate level jobs that can help us retain talent in Lancashire.”
Paul Breen, director of GC Business Finance, said: “Lancashire is a strong and vibrant economy and home to a vast number of successful businesses. However, some companies struggle to access funding through traditional means which is where Rosebud can play a vital role.”