| Government to provide loans to small businesses |
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 Small businesses across the UK will soon be able to receive loans directly from government.Lord Mandelson has approved the first scheme, which will see firms able to apply for loans of up to £250,000 from Regional Development Agencies (RDAs), in the West Midlands. According to the Times, £4 million can be handed out by Advantage West Midlands at "commercial rates" to small businesses across the area. It is reported that other RDAs across the country are being urged by government to create similar schemes. Another initiative which could be introduced soon is called the Small Firms Loan Guarantee Scheme, which could offer loans of up to £250,000 from public funds to businesses without assets. "They emphasise that the money should be available only for 'viable' companies and should not be used to delay failing ventures going bust," reports the newspaper. It was recently reported the government has launched its Business Health Check Scheme which provide "health checks" to small businesses, in the aim of helping them survive the current economic climate.  |
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