Lancashire County Council has teamed up with an investment specialist to offer £11.25m in Rosebud funding to growing businesses.
GC Business Finance (GCBF) will oversee loans from £10,000 to £300,000 for businesses in Lancashire over the next five years.
Rosebud aims to create around 150 new jobs per year and will focus on sectors such as: aerospace; advanced manufacturing; digital and creative; energy and environment; health innovation; and financial and professional services.
County Coun. Michael Green, cabinet member for economic development, environment and planning, said: “Over the past 30 years Rosebud has helped thousands of businesses across Lancashire to expand by tapping into finance to create new jobs, move premises and invest in technology.
“We’re incredibly pleased to be able to allocate a further £11.25m pounds to support growing Lancashire businesses to achieve their growth aspirations. This will lead to new jobs being created, for the benefit of Lancashire residents.”