Chancellor George Osborne announced a £20bn National Loan Guarantee Scheme this week (20 March) for small and medium-sized businesses.
Under the programme, firms with an annual turnover of less than £50m will be able to receive a discount of one percentage point compared to the interest rate that they would otherwise have received from that bank outside the scheme.
"The coalition government has an ambitious but vital plan to increase the number of free early years places," Teather said. "The early education and childcare sector is dominated by small businesses and they can now benefit from access to cheaper finance through the National Loan Guarantee Scheme.
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