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A new £14 million service to help London's small businesses locate finance has been launched.
The initiative is designed to revitalise London's run-down areas and will be available to start-ups and established firms in 95 of the city's least-developed wards.
Under the scheme, businesses can apply for financial advice from private sector financial consultants and accountancy firms at a heavily subsidised price.
According to Business Link for London, one of the organisations running the scheme, start-ups could receive an 87& discount while firms already up and running could get 75& off.
The news follows recent reports showing that businesses in inner-city areas - especially those run by people from ethnic minorities - have a harder time accessing funds.
Judith Rutherford, chief executive of Business Link for London, said: "Finance is the life blood of any business, but many SMEs, irrespective of whether they are starting out or long-established, find raising finance a complex area.
"By taking them through the process, step-by-step, we hope that many small businesses, particularly those in disadvantaged areas of London, will become 'finance ready."
'Access to Finance' is funded by the London Development Agency and the European Regional Development Fund and follows a pilot scheme in which 80% of participants found the cash they needed.
It comes as the government yesterday announced a separate £800,000 project, providing money and advice to London's least privileged businesses - part of a wider drive to revitalise the UK's inner-city districts.
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