ART secures new funding

ART’s loan fund is derived from investments made by companies and individuals in addition to public and private sector support.  Thanks to support from the Regional Development Agency, Advantage West Midlands, through its Advantage Small Loans programme, which is part financed by the European Regional Development Fund, ART is in a position to lend at least £1m a year for the next two years.

Patrick Palmer, Head of Access to Finance at Advantage West Midlands, said: “We welcome ART’s record year – lending £1.2m in 2005 - and are delighted that our ongoing support will enable it to lend at similar levels in the future.  Its success demonstrates that there are many situations in which viable businesses cannot secure the finance they need from conventional sources, and that ART can help fill that funding gap.”