Borough business network Made In Bury has launched a not-for-profit scheme to provide interest-free loans to start-up firms.

The organisation has rolled out its Made In Bury Business Loans to help give new firms a helping hand.

In the UK, more than 60 per cent of start-up businesses fail in their first two years.

The Made in Bury Business Academy was founded in 2016 by Debi and Phil Fellone, with the objective to provide start-up businesses in Bury with the support they need in the challenging early years. 

Since its launch, the business academy has helped 166 Bury start-ups, providing coaching, mentoring and a support network, with the final piece of the jigsaw being access to funding.

Many start-up businesses need a little financial help which can be very difficult to obtain from traditional lenders such as banks, credit unions and other financial institutions. This is where a Made In Bury Business Loan can help.

Made In Bury’s intention is not to act in place of conventional funding but to be viewed as “a lender of last resort” and help those businesses that have a great product or service and have been refused funding to develop their firm or support a new project.

Get the latest news delivered straight to your inbox by signing up to the Bury Times morning newsletter as well as our breaking news alerts

The aim is to make the application process as streamlined as possible and most types of businesses will be considered.

All applications are reviewed by a panel of experienced and trusted Bury-based business owners who meet regularly and once an application has been approved, monies will be made available quickly.

Made In Bury is asking if an extra £2,000 to £5,000 would make a difference to their start-up business. To find out if your business qualifies, visit madeinbury.co.uk.

If you have any questions, contact Phil on 07831 369089 or email info@madeinbury.co.uk.