The LCE fund, delivered by Coventry and Warwickshire Reinvestment Trust (CWRT), provides financial backing to Warwickshire-based SMEs with strong growth potential that may struggle to secure traditional lending. Since its 2022 launch, it has facilitated over 130 loans.
This investment has also unlocked an additional £6.6 million from the private sector, safeguarding 567 jobs and creating 190 new roles. This initiative aims to strengthen the county's economy and generate opportunities for local residents.
Attleborough Auto Centre in Nuneaton received a £70,000 loan, enabling relocation to larger premises, investment in new equipment, and bringing services in-house. This expansion allows the business to meet customer demand and enhance its long-term future.
“"The CWRT funding has played a huge role in what we have achieved. Without it we certainly would not have been able to afford to set up the new premises in the way that we have. The funding enabled us to purchase equipment, bring outsourced services in house, generate additional income and secure the future of the business and its employees."
Councillor Rob Howard, Portfolio Holder for Economy and Rural Development at Warwickshire County Council, highlighted the fund's positive impact. "Access to finance can often be one of the biggest barriers to growth, particularly for smaller businesses and start-ups," he stated. "These funds are helping to unlock opportunities that might otherwise not be possible."
Sheridan Sulskis, Chief Executive of CWRT, emphasised the fund's significance. "Reaching more than £9 million of investment through the LCE fund is a significant milestone, but what matters most is the difference that investment makes to businesses and the communities they support," she said. "Access to finance should not be the barrier that prevents a viable business from moving forward."
For more information on business support in Warwickshire, visit the Warwickshire Business Growth Service website. Details about CWRT and the LCE fund are available at www.cwrt.uk.com.
