Start Up Loans programme reaches £25m milestone for Hampshire
Small business founders in Hampshire have benefitted from over £25 million (m) of loans since 2012 from Start Up Loans, the government-backed small business lending programme, it has emerged. The scheme has delivered 2,292 loans in the southern county, with an average loan value of £11,172. Louise McCoy, commercial managing director of small business lending at the British Business Bank said: “Reaching the £25m milestone in loans to entrepreneurs in Hampshire is a testament to the diverse and vibrant business landscape of the region.” Meanwhile, across the South East region as a whole, more than 12,200 aspiring entrepreneurs have taken out a Start Up Loan since 2012 amounted to over £130m in funding, with an average loan value of £10,690. Based on analysis for each of Hampshire’s parliamentary constituencies, Portsmouth was shown to be an entrepreneurial hotspot with the highest number of Start Up Loans being handed out in Portsmouth South (217) with Portsmouth North (163) in third place. Southampton Itchen came in at second place, with 152 loans made worth around £1.9 million. Loans …