The finance is being provided by Bath and North East Somerset Council through the £500,000 Radstock Capital Funding pot that has already delivered the refurbishment of Victoria Hall and provided funding for improvements to community buildings in the town.

Councillor Ben Stevens (Lib-Dem, Widcombe), Cabinet Member for Sustainable Development, said: "The Council is supporting the economic and community regeneration of Radstock and Westfield through encouraging businesses and potential business owners to think

creatively about how they can use this loan pot.

"It is a really positive opportunity that could, in turn, create wider employment and improve the long-term prospects of the area."

Councillor Robin Moss, Ward Councillor and Member of the Economic Forum, said: "There are many small businesses in the area that need support to the next step in their development. I hope that this loan fund will be one of the ways B&NES can support them in growing and hopefully, create local jobs."

Councillor Lesley Mansell, Chair of Radstock Town Council and Member of the Economic Forum, said: "I am delighted that these loans are now being offered and encourage small businesses to apply.

"Part of the arrangement is to provide support, which will be offered at every stage, so this is a big incentive."

How it works

Applicants must have a business plan for how they will spend the loan. If a proposition is presented that could be eligible for a loan, applicants will meet with a panel of local business people and discuss the idea with them; they are the ones who will decide if a business will receive a loan.

For start-up businesses, the maximum loan is £10,000.

For established businesses with a track record, the maximum loan is also £10,000.

Help from local business support organisations and/or a mentor is available to help develop and deliver ideas.

The Forum is working with Quartet Community Foundation and the Fredericks Foundation to administer the loans. For more information, people should contact: http://www.fredericksfoundation.org/bristolbath">www.fredericksfoundation.org/bristolbath or email Geoff Bartlett, Client Manager: geoff@fredericks foundation.net

Geoff Bartlett, Client Manager for the Bristol and Bath area, said: "Since we started lending in the Bristol and Bath area in 2012, we have helped around twenty businesses in the West of England and 80% of those were start-ups who would not otherwise have had the opportunity to run their own businesses.

"In many cases, it was their only option to provide an income for themselves and their families, having experienced periods of unemployment or other obstacles in their lives."