§ Mrs. Curtis-ThomasTo ask the Secretary of State for Trade and Industry how much has been allocated to Crosby from the Phoenix Fund. [164411]
§ Nigel GriffithsSeven CDFFs (Community Development Finance Institutions), which is covered by the Phoenix fund, are currently supported in the North West region of which one (Train 2000 Ltd.) is Merseyside based. Train 2000 have been awarded £516,757 (revenue support £109,257: capital support £407,500) and to-date have advanced 30 loans, one of which was to a woman entrepreneur within the Crosby constituency.
Train 2000's principal target group is female entrepreneurs unable to access business finance from conventional sources.
Train 2000 have been successful in receiving funding from the Phoenix Development Fund as well as from CDFI(Community Development Finance Institutions).
North West
Total Support currently committed to NW CDFI's (Community Development Finance Institutions) is £4,844,932 (expected to rise to £6,934,889 after completion of the third process). To date 232 loans has been advanced within the North West region totalling £1,398,725.
There are no Phoenix Development Fund Projects that focus solely on Crosby, however Crosby will be covered by those projects listed as operating in the whole of Liverpool, Merseyside and the North West. The Phoenix Development Fund Projects, which fall within the North West are as follows.
1597W
£ Project Phoenix Development Fund (to March 2004) Phoenix Development fund Building on the Best April 2004– March 2006) City growth Strategies (April 2004–March 2006) City Growth Strategies (April 2004–March 2006) Development Fund for Rural Renewal (to March 2004) Area Covered Granby and Toxteth Development Trust 26,988 — — — — Granby and Toxteth Dingle Opportunities 778,783 — — — — 11 Objective 1 pathway Areas in Liverpool(no mention of Crosby Train 2000 225,000 799,000 — — — Merseyside Knowsley MBC 17,483 — — — — Knowsley St. Helens Chamber 471,463 — — — — St. Helen's St. Helens (via North West RDA) — — 375,000 — — St. Helen's Womens Business Network North West 242,520 — — — — North West Liverpool Institute of Performing Arts 254,782 528,000 — — — North West Cats Pyjamas 371,000 — — — — Liverpool Liverpool (via North West RDA) — — — 250,000 — Liverpool Manchester (via North West RDA) — — — 250,000 — Manchester Other NW 1,470,000 — — — 814,200 NW outside Merseyside Included in the above is information about City Growth and Development Fund for Rural Renewal, which comes under the Phoenix fund.