Entrepreneurs offered £25m of interest-free funding

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UK entrepreneurs could be in with the chance of winning a share of 25m for their business following the launch of a new initiative by the Bank of Scotland Corporate (BSC).

The Entrepreneur Challenge will give companies in five different UK regions the chance to win 5m, free of interest and arrangement fees for three years.

"One company in each region will succeed in obtaining the funding package," said BSC. "It will be used by the successful applicants to help turn exceptional business plans into profitable reality."

In order to qualify for the challenge applicants must be established companies with a turnover of at least 2m a year. They should be able to demonstrate at least two years' growth in sales, revenue or profit and be based, at least substantially, in the UK.

The five regions are Sco...

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