More than £11m has been lent to start-up firms across the South West ranging from a sewing café to a mobile cocktail bar over the past year under a programme run by the British Business Bank.
Since its launch in 2012, the Start Up Loans scheme has supported more than 9,000 businesses through £90m in loans in the South West. 
Many of these businesses would have otherwise found it difficult to secure loans from traditional lenders.
In its latest financial year it has lent more than £11m to 874 South West businesses via the British Business Bank’s appointed business support partners in the region, primarily alternative regional funder SWIG Finance.
Spread right across the region, the diverse range of businesses includes an animal therapist, baker, green builder, photographer, ceramics studio, mobile cocktail bar and sewing café.
Businesses taking part in the Start Up Loans programme can borrow up to £25,000 at a fixed annual interest rate of 6%, repaying the loan over one to five years. The programme also provides 12 months of free business mentoring.
British Business Bank manging director, small business lending, Richard Bearman said: “We're delighted that the Start Up Loans programme continues to have such a hugely positive impact on entrepreneurs across the South West, helping hundreds of small businesses in the past year. 
“Hitting £11m is a huge milestone and highlights the success of our efforts to boost access to finance across the region.”
Among the businesses to benefit from Start Up Loans funding is BKW CrossFit, a new community-based gym in Speedwell, Bristol, which has been set up by four friends.
Adam Facey, his partner Raquel Sanjurjo Doval, and friends Holly Hawkins and Hayden Cotton, pictured, came together in 2022 after meeting at the gym and bonding over their mutual love of fitness.
They shared a belief that they could build on CrossFit’s the community aspect and acquire a space for socialising after training.
Last year they took the plunge and each took out a Start Up Loan, amounting to £60,000 between them, via British Business Bank delivery partner BizBritain.
The gym opened this March with a focus on creating a strong sense of community with a family-oriented feel.
Adam said: “Securing this finance has meant everything to us. We wanted a trusted loan provider that looked at the business plan, not just at the potential profit behind it.
“It’s given us the opportunity to purchase all of the equipment instead of renting it and to be able to secure a big unit in the location we wanted.”
