Source: ONE News
A $3 million initiative established by an expat Kiwi businessman was launched by the Auckland Business School on Thursday night as a way of helping small and medium enterprises (SMEs) step up their growth.
The Bidwill Entrepreneur Challenge, funded by British based Charles Bidwell, will see a series of three $1 million loans given to the fund’s successful applicants to further their endeavours.
Business School dean Professor Greg Whittred says the money is not start-up cash, but a loan for companies that have been in business for a little while, with a likely turnover of around $2 million.
He says the loans will be made on favourable terms with an interest rate to be negotiated on a case by case basis.
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