Cheltenham Borough Council is set to start lending money through a local finance portal.
The council has signed up with FOLK2FOLK, which matches local businesses looking for finance to grow with investors looking to receive a return on their investment. The council has yet to agree how much it will lend.
Rowena Hay, the council’s cabinet member for finance, said: “By partnering with FOLK2FOLK, we will be able to help local small businesses access finance to support their growth as well as continuing to help the council in its journey to become financially sustainable.”
