Entrepreneurs across the East of England can get their hands on loans of up to £200,000 to help start-up and grow businesses, even if they have been refused by their banks. The East of England Development Agency (EEDA) has loan programmes in place to help businesses looking to borrow between £500 and £200,000.‘Small Loans for Business’ offers between £500 and £50,000 to regional businesses whose funding applications have been refused by the banks.
    

Alternatively, EEDA’s ‘Regional Growth Loan’ can provide up to £200,000 for small to medium-sized businesses that have a real potential for long-term growth and a workable business proposition.

The news comes on the back of the Federation for Small Businesses’ criticism of UK banking for small businesses and their call for “alternative sources of finance to be provided locally.” A press release with further information can be found here