A new finance stream has opened to help Cumbrian businesses see out the coronavirus crisis.

FW Capital, which operates two funds for the Northern Powerhouse Investment Fund worth £142m is making Coronavirus Business Interruption Loans available with a focus on lending to businesses in the Tees Valley, Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.

The British Business Bank has accredited FW Capital as a lender under the scheme

It will now be able to offer loans from £100,000 to £750,0000 to small and medium sized businesses that are struggling financially as a result of the coronavirus pandemic.

Gary Guest, FW Capital fund director for Cumbria and the North West, said: “There are many excellent businesses out there which are struggling due to the circumstances through no fault of their own.

"Being able to provide NPIF loans backed by CBILS now means we can step in and provide the support they need to keep going and in time, both grow and thrive.

"A key benefit of CBILS loans is that no personal guarantees are required for loans of £250,000 and below.

“I’d urge businesses in our area to take a close look to see if this could be a viable option for them and to get in touch if they’d like to apply or would like more information as we’re always happy to chat.”