HUNDREDS of North-East businesses are in line to benefit financially after a fund set up to support growth projects was extended.

The North East Business Support Fund (NEBSF), part-financed by the European Regional Development Fund, will now run until June next year.

The fund has already helped nearly 2,000 companies, offering support with the costs of projects.

It has paid out £1.4m to back a number of ventures, from planning and product development, to web design and marketing strategy.

Managed by North-East enterprise agency NBSL, it provides up to 40 per cent of funding for a project, up to a maximum of £1,400.

John King, North-East business support manager, said the extension will allow several hundred small and medium-sized firms to achieve expansion goals.

He added: “It’s been fantastic for us to help so many businesses across the region access this funding and see them grow as a result.

“We are delighted more businesses will have the chance to gain access to support that will unlock their potential."