BUSINESSES in Coventry and Warwickshire which are struggling to access finance have a new simplified way of assessing their funding options.
The Coventry and Warwickshire Chamber of Commerce has launched a new funding matching tool which it hopes will revolutionise access to finance for businesses in the region.
The new Chamber Finance Finder will allow member businesses fast and simple access to all funding options across loans, equity and grants – which, the Chamber says, will simplify and speed up the application process.
The Chamber has teamed up with Swoop Funding to provide access to both government and non-government funding options.
The latest figures from Swoop show fewer than 50 per cent of businesses are accessing the loans needed.
Members will also enjoy other benefits such as a dedicated Chamber Finance Finder hotline, a free financial health check, and finance alerts and updates.
Chamber membership manager Hazel Pilling said: “With cash flow a key concern for many businesses in our region, it’s essential firms can access the support they need.
“By ensuring all firms have fast and simple access to finance we can safeguard the businesses that have built our community.”
Adam Marshall, director general of the British Chambers of Commerce, said: “Business communities are facing unprecedented challenges, and access to finance remains a pressing issue for so many firms.
“The Chamber Finance Finder will help companies find finance options that will help them restart, rebuild and renew their operations. We’re delighted to support the Coventry and Warwickshire Chamber of Commerce in launching this initiative.”