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Loan Fund that Helps North East Firms Win Larger Contracts Hits 10m Milestone

Loan Fund that Helps North East Firms Win Larger Contracts Hits 10m Milestone

08 April 2016

A loan fund which helps North East companies win lucrative contracts has reached a £10m milestone.

The Tees Valley Catalyst Fund was set up in 2013 and since then 15 companies have won contracts worth £128m, creating or safeguarding 645 jobs in the region.

The fund was set up by Tees Valley Unlimited and opened up to businesses in the whole of the North East and parts of North Yorkshire in October 2014.

Neil Kenley, director of business investment at TVU, said: "This is excellent news. The Tees Valley Catalyst Fund is encouraging local business confidence, creating and safeguarding jobs and has provided the local economy with a multi-million pound boost.

more [source: Chronicle]