Businesses in Exeter have benefitted from over £2m in funding through the Start Up Loans programme since it began.

The programme, which is part of the British Business Bank, provides funding to smaller businesses who may otherwise find it difficult to secure loans from other sources. It also offers mentoring to recipients in their first year.

Nearly 200 businesses in Exeter have benefitted from this funding support, which offers personal loans of up to £25,000. They range from coffee shops and cafés, to plasterers, caterers, dog groomers and retailers.

Louise McCoy, commercial managing director for small business lending at the British Business Bank, said: “The Start Up Loans programme has supported thousands of smaller businesses across the South West since its launch in 2012 and we’re delighted to have passed the £2m lending milestone in Exeter.

“It’s vital that start-up and early stage businesses have the support they need to thrive and that’s what the Start Up Loans programme continues to deliver.”

One of the latest businesses to benefit is Cameron Mills Group, a centre for music in the heart of Exeter. The business is opening new High Street premises to offer more opportunities to budding creatives in September.

Its founder, 25-year-old Cameron Mills, has secured a loan of £10,000 through Business Support Partner SWIG Finance to kit out the new studio space.

He said: “The funding meant we could deliver the high quality we wanted straight away. But the funding did more than that, the process really helped me think about the business, cash flow and long-term plans in a way I hadn’t before.”