It's been a year since the big banks put up a £2.5 billion fund to invest in small companies.

The Business Growth Fund (BGF) was formed as part of Project Merlin - the plan by banks to show they're doing their bit to help grow the economy through lending and investing.

But so far just 4% of the money of the money has been spent, in a total of 18 investments.

Stephen Welton, the BGF's chief executive, told the Today programme that he wants to promote the message that now is a good time to invest in small companies, and that more of the fund will be spent over the next 10 years.

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