Bradford Council has pledged more than £4 million for a new fund to help businesses.

All West Yorkshire local authorities are expected to pledge cash to the £20 million Revolving Investment Fund, which aims to help firms struggling to borrow enough from traditional sources.

Cash will be loaned to help people – especially developers – get economically viable projects off the ground.

Applicants would be expected to show how their projects would contribute to the wider economy.

They would borrow at commercial rates and pay interest, so the fund is expected to grow over time.

The project will form part of the new Combined Authority.

Bradford Council’s executive yesterday agreed to put £4,133,000 towards the fund.

Councillor Imran Hussain, deputyleader, said: “It is something we fully support.”