BUSINESSES supported by a special loan fund over the last five years have created 179 jobs in Derby, Deane and Daubhill.

The £408,000 fund created for the 3Ds area of Bolton was launched in March, 1997 as part of the government's Single Regeneration Budget scheme.

The objective was to stimulate enterprises, support local businesses, assist in the regeneration of the area and create jobs and wealth.

Original partners were Bolton Council, SRB, Bolton Business Ventures and the Co-operative Bank, which provided a five-year, interest-free loan of £100,000 to on-lend to local businesses.

A total of £412,735 has been lent over the last five years to 66 different businesses -- 38 of them new start-ups.

The Co-operative Bank's loan has been repaid in full.

Organisers estimate that a further £1 million of new investment has been levered-in as a result of the loan provision.

BBV say most of the loans are being re-paid on schedule, although the bad debt write-off for the Fund currently stands at 5.8 per cent.

But there is still scope for new applications and £50,000 is available to lend to viable but not bankable propositions.