SWIG Finance has revealed that over the past 12 months, it has supported a record number of south west businesses.
In the last financial year, the Truro-based not-for-profit organisation has lent almost £5 million to over 460 businesses across the region, creating over 700 jobs, with £1.3 million going to Cornish businesses.
The annual lending figures equate to more than double the value of the loans for the financial year 2013/2014 and more than triple that of 2012/2013.
SWIG Finance delivers loan finance to start up and existing businesses seeking to invest in growth which are unable to access sufficient finance from the banks.
MD, John Peters, commented: “We are really pleased to see in the last year that business owners are regaining confidence in the economy and seeking to invest in their businesses.
“The figures clearly demonstrate an on-going demand for finance and we hope to be able to lend even more to businesses in need of funding in the coming year.”