THEY are the modern Adventurers - York's rival bankers walking in the sunny gardens of the city's 14th century Merchant Adventurers Hall. And they are completely in step.

Never before have the money men been so united in their efforts to help small ventures whose innovative ideas could be in danger of withering and dying because of lack of cash.

They have linked arms to back the revolutionary York Technology Growth Scheme to the tune of at least £6 million funding drawn from the Government's Small Firms Loan Guarantee Scheme.

The York initiative has been organised by York Business Development Limited (YBDL) which, for 16 of its 17-year life, has delivered government funded support programmes to pre-start, start-up and existing businesses in the city as well as operating a "soft loan" fund on behalf of City of York Council.

Under Norman Whyte, its chief executive and himself a former bank manager, its reserves swelled to £250,000, money which now serves as the springboard for this greater community effort to help fledgling businesses.

Administering the project will be a host of experts who will independently vet prospective proposals for worthiness and, if necessary, hold their hands all the way to the bank - and afterwards.

That should bypass the problem that banks have suffered in trying to implement the Government's scheme - as one banker put it - "of having to expensively kiss too many frogs before one turns into a prince."

Bryn Bates, commercial manager of the Royal Bank of Scotland, which has a specific department for the Government scheme, said: "It will be hugely helpful to know that applicants have already been through the process once with the YBDL's expert panel. Of course we will still have to check them over, but they wouldn't get to our desk in the first place if they weren't regarded as an acceptable credit risk."

Steve Cooke, corporate manager for Barclays, spoke for most of the bankers when he said: "The £1 million that we have each pledged is symbolic because there is no limit to the amount we would consider spending on the right investments."

For Mark Vines, area manager of HSBC support for the new scheme goes with the grain of a policy dedicated to encouraging York's growing number of knowledge-based companies. This year the bank established a Chair of Innovation at the University of York to identify the marketability of brilliant schemes. It has established a network of specialist technology banking managers, including York, where Lisa Williams was appointed last October.

So far this year, said Mr Vines, it has used the Small Firms Loan Guarantee Scheme with four technology businesses. "This scheme will ensure that applicants will stand a much greater chance of commercial success."

Eugene Taylor, commercial manager for York's Natwest, said: "This is a great idea. We often support small firms under the government's scheme but in isolation, whereas this offers a package of help."

Jeremy Bowers, business banking manager for Yorkshire Bank's business financial services, said: "We see this initiative by YBDL as driving the impetus of start-ups, especially those coming out of the university. The pre-vetting procedure will unquestionably oil the wheels. Being a local bank with a global presence we see that as a massive plus point because this scheme could become the blueprint throughout the UK."

Keith Smith, senior business manager at Lloyds TSB in York, said: "It will be a boon to vet a strong business plan which has already been assessed as worthy of consideration. It's comforting to know that if it goes through the YBDL process and doesn't get to me then the project probably wasn't worth submitting in the first place." He acknowledged that there was scope for better use of the government loan guarantee scheme. "The biggest problem has been getting to the point of detailed plans and projections, all of which takes time - and time is money. This YBDL project could offer the solution and deserves everyone's support."

Pictured, from left, are Ray Wynne, business promoter for Science City York, Jeremy Bowers, business manager for Yorkshire Bank, Mark Vines, area manager of the HSBC bank, York, David Dickson, chairman of York Business Development Ltd, Bryn Bates,commercial manager for the Royal Bank of Scotland, York, Steve Cooke, relationship manager for Barclays Bank, York, Eugene Taylor, commerical manager for the NatWest Bank, York, and Norman Whyte, chief executive for York, Selby and Malton Business Advice Centre

Updated: 09:20 Tuesday, May 21, 2002