January 5, 2007

The significance of providing “alternative funding” to job-creation enterprises within under-served communities is on the agenda at a “Financing Growth” seminar to be held at Aston Science Park later this month.

Guest speakers will be Steve Walker, chief executive of the Aston Reinvestment Trust (ART), who is a member of the Regional Finance Forum, and Mohammed Nazir, chairman of West Midlands Minority Ethnic Business Forum, who also sits on the West Midlands Enterprise Board.

Matthew Hidderley, who is organising the event on behalf of Aston Science Park’s business development team, said: “Community Development Finance Institutions (CDFIs) such as ART provide a crucial service to entrepreneurs and social enterprises who might not be able to raise additional funding from conventional sources such as banks and building societies.

“By filling the ‘financial gaps’ CDFIs are able to tackle financial exclusion in under-served markets or areas of population and in their own way they are helping to achieve positive social change and bring wealth to disadvantaged communities.”

He added:  “For example, since its establishment ten years ago, ART has loaned over £5 million to 250 borrowers – an action which has resulted in the creation or protection of more than 2,000 jobs in the Birmingham area.”

Part-funded by regional development agency Advantage West Midlands, ART is an independent organisation that lends alone, or alongside banks, to provide funds for cash flow or capital investment.

The seminar, which takes place on January 23, will be chaired by Phil Lines, Director of Finance at Aston Science Park, and attended by members of the banking and financial services community who offer advice and support to micro and small-to-medium sized businesses. The Financing Growth event is in association with R2i, ART, Advantage West Midlands, the West Midlands Minority Ethnic Business Forum and the Fair Finance Consortium. PICTURED: Steve Walker, chief executive of ART For further information contact: Matthew Hidderley, 0121 260 6168 or email This email address is being protected from spam bots, you need Javascript enabled to view it