A TOP-UP loan from a Malvern company has helped realise a Kidderminster community's dream of creating its own independent cinema.

This was the first major loan granted by Church Street-based Impetus, which is one of 59 community development finance institutions in the UK.

CDFIs, as they are called, were set up with Department of Trade and Industry support to help small businesses with viable plans but no financial backing.

Simon Swaffield, owner and developer of the new Warehouse Cinema, which opens tomorrow after a number of setbacks, was delighted with the aid.

"We couldn't have got this far without the help of Impetus, and we are grateful for its wonderful support," he said.

Warehouse Cinema was awarded two loans of an undisclosed amount and Impetus is now looking for other companies to take up offers.

Steve Williams, development manager of Impetus, said: "This first major loan deal is a big milestone for Impetus.

"Now we are looking to help other small businesses that find themselves in the same position of having a viable business plan but are finding it difficult to win sufficient funds from the usual lenders.

"Impetus funding is different as we consider the social, economic and environmental benefit of a project to the local community too.

"We can offer loans of up to £40,000 to businesses in Worcestershire, Herefordshire and Shropshire and invite applications." To be eligible for a loan the businesses must demonstrate a benefit to Herefordshire, Worcestershire or Shropshire and be able to provide a viable strategy for repaying the loan.

"Although the finance initiative was launched in September 2004, local businesses have been slow in coming forward, perhaps because they haven't heard about us and how we can help them and the communities they serve," added Mr Williams.

For more details on how Impetus can help local businesses, call Steve Williams on 01684 893883.

local businesses can be found online at www.impetus-marches.co.uk or by calling Steve Williams on 01684 893883.