NOT-for-profit lender, Enterprise Answers – which has brokered more than 500 deals to help businesses grow and flourish – has marked its 20th anniversary year with a major funding milestone.
Our organisation, which is based in Penrith and operates across Cumbria, Lancashire and Yorkshire, recently crossed the £20 million in loans threshold.
We are marking the occasion, and celebrating some of the many entrepreneurs and commercial enterprises we have helped, with a special report which measures impact linked to economic growth and prosperity.
Chief Executive, Grahame Latus, said: “Back in December 2004, we were handed a clear brief – ‘make it happen’. With just sixteen months of funding and a belief that Cumbria needed an alternative business finance option, we set about doing just that.
“Two decades later, the impact speaks for itself. But this has never just been about lending money. It’s about building relationships, walking alongside businesses, and helping them grow, adapt, and create jobs.
“We focus on value over volume, supporting firms mainstream lenders often overlook. In many cases, our involvement has helped rebuild confidence, with banks later stepping back in.
“That’s the power of local knowledge and patient finance.”
Enterprise Answers’ newly published 20-Year Impact Report shows that since launch in March 2005, the organisation has completed 544 client deals, channelled £20.3 million into ambitious businesses, safeguarded or created 2,033 jobs and contributed an estimated £81.2 million to the regional economy.
And we have been on hand, even when times have been incredibly tough.
During the 2008 financial crisis, when banks pulled down the shutters, more than 60 SMEs in Cumbria alone received over £1 million in support – helping them stay afloat and continue trading through one of the toughest economic periods in recent history.
When Covid-19 shuttered retail and hospitality in 2020, its loans kept businesses such as Mrs Kirkham’s Lancashire Cheese turning milk into money.
Other beneficiaries range from Cumbria Crystal in Ulverston, who have accessed finance for new kilns and other specialised machinery, to safety-engineering group Delkia, now employing scores of engineers across three northern sites, and micro-producer Lakeland Lights, whose scented candles are sold nationwide.
Beyond balance-sheet metrics, the report highlights wider social dividends: more than 55 employees have gained new qualifications through the Eden Business Support Fund – jointly administered by Enterprise Answers and Westmorland and Furness Council – and regular donations to Eden Valley Hospice underscore Enterprise Answer’s commitment to its communities.
Grahame said: “Crossing the £20 million line is cause for celebration – but it is more than a number; it proves that capital deployed close to home can drive growth that London-based banking institutions routinely overlook.
“We offer an approach to lending that has been absent from the high street for many years and our ethos is simple: if a proposal stacks up on the farm, factory floor or high street, we will work hard to ensure we can deliver the very best funding solution.
“Looking ahead, our mission remains unchanged: to keep creating opportunity and unlocking potential in the places that need it most.”
Enterprise Answers offers finance for businesses which have been trading for at least two years, with loans of up to £150,000 available. Call 01768 867118 or email [email protected] for an initial chat.