Start Up Loans has provided more than £69m of funding across more than 7,800 loans to business owners in the South West since 2012, the British Business Bank has revealed.
Across the UK, the Start Up Loans scheme has made over 90,000 loans, providing over £819m of funding.
South West entrepreneur Sophie Reardon is among those who have been supported.
She had visited, built and worked at climbing facilities around the world before opening the Tide Climbing Center after she and partner Sam secured loans of £20,000 each through delivery partner SWIG.
“The trigger that made me say yes to starting my business was when I realized it would finally help me fulfill my dream of living in Cornwall,” said Reardon. “The moment I said yes to seeking funding for my business was when I realized there were programs that could help me through the difficult climate of the time.
“We chose Start Up Loans for this reason, because they approached my business differently than a traditional bank would, providing me with support and coaching.”
Richard Bearman, Managing Director of Start-Up Loans, said: “Offering over 90,000 loans and providing £800m of funding is a milestone for the program and reflects the ambition and determination that small businesses across the countries have demonstrated in recent years.
“It’s great to hear the stories of how business owners across the South West felt when they said yes to becoming their own boss. Our Ambassadors often tell us that while it can be trying for the nerves of starting a business, saying yes and firmly making the decision to go for it is half the battle.”