The London Development Agency has awarded an additional £1.5 million to the Gateway to Investment (g2i) investment readiness programme which helps small businesses prepare themselves for seeking private sector funding.
The LDA has also extended the Access to Finance programme which supports small businesses across the capital.
London Development Agency Chief Executive Peter Rogers said: “We have provided fresh funding to these programmes so that London’s small firms get the best support possible and ensure that our thriving enterprise culture is not stifled by the economic downturn.”
The extensions of the schemes form part of the Economic Recovery Action Plan announced by Mayor of London Boris Johnson in December.
Speaking today the Mayor said: “In these tough times it is vital that lenders are flexible and make decisions on requests for finance based on the merits of each individual business plan. However it is also crucial that London’s firms are clued up to negotiate with lenders. Extending these important schemes will ensure many more firms are in good shape to present a sound business case when they need new capital.”