Robert Owen Community Banking Fund has been accredited by the British Business Bank as a lender for the term loan variant of the Enterprise Finance Guarantee Programme.

ROCBF, which has invested in Gwent businesses in the past and has plans to continue to do so, has recently launched an enhanced range of ethical loans for businesses, individuals and communities across Wales.

These loans, ranging from £1,000 to £50,000, are available to support a spectrum of local enterprises.

The new EFG accreditation will enable ROCBF to increase still further its provision of finance to smaller businesses that might otherwise struggle to obtain the finance they need.

The British Business Bank’s Enterprise Finance Guarantee Programme facilitates business finance to smaller businesses which are viable but unable to obtain finance from their lender due to having inadequate security to meet the lender’s normal credit requirements.

Since its launch in 2009, EFG has supported the provision of more than 30,300 facilities to a value of more than £3.2bn (as at end December 2018).

Mark White, chief executive officer, Robert Owen Community Banking Fund, said: “This is a very exciting development for us and is the latest building block in our three-year growth and expansion plan.

"The EFG accreditation from the British Business Bank potentially opens the door for applicants across a range of business types and activities. There is a huge, untapped pool of enterprise in Wales, and this will be an important tool in helping us unlock their potential.”