A not-for-profit finance company, which helps Cumbrian businesses grow, is entering “uncharted territory” after lending more than £2m and smashing its previous records.
Business Finance Cumbria, previously Enterprise Answers, provides funding of up to £150,000 to businesses for uses such as working capital, equipment and premises.
Only five months into the financial year, Business Finance Cumbria has agreed 33 loans for a total value of £2.04m. This is compared to £1.5m of loans it made in the entire 2025/26 year.
Investment Director James Todhunter said the record figure was a reflection of the level of demand and the work its team have done to connect with businesses over the last year.
“Anyone who runs a business will be aware of how hard it can be to secure the finance you need to invest in the future,” says James.
“As high street banks have closed their branches, face-to-face meetings with your local bank manager have become a thing of the past.
“This means businesses don’t know where to turn for funding advice, or resort to high-cost lenders online, which is often a poor choice forced through necessity, and not the best option for their business.
“Business Finance Cumbria is filling this gap by building real relationships with businesses, visiting them in person to understand their needs and providing creative, bespoke solutions specifically tailored to them with speed.”
Business Finance Cumbria currently has over £5m of active loans in sectors including tourism, leisure, hospitality, agriculture and logistics.
All lending decisions are made by its team in Penrith with finance often available within days.
Referrals come from accountants, as well as organisations including Enterprising Cumbria and Cumbria Growth Hub.
James says it is clear there is much more work for the Business Finance Cumbria team to do for the rest of this financial year and into the future.
“We are entering uncharted territory, working with more businesses and lending more than ever before,” he says.
“Demand is evident across Cumbria and our ambition now, as a not-for-profit organisation, is to provide our services to even more enterprises in every corner of Cumbria, making a real difference to our communities.”
If you are interested in finding out how Business Finance Cumbria can help your business, contact the team by emailing [email protected] or calling 01768 867118.