Finance

If you’re looking to grow or develop your business, financial support can really make the difference. We are working proactively with a network of business support providers across the areas to connect you with the specialist advice and assistance, workshop and grants available. This network includes:

Start Up Loans
Seed Enterprise Investment Scheme
Finance your Growth
Midlands Engine Investment Fund

Midlands Engine Investment Fund

SEMLEP is part of the Midlands Engine Investment Fund: a £250million fund available to SMEs based in the South East Midlands area.

The fund, established by British Business Bank, aims to support fast-growth businesses looking to expand into new markets and boost productivity, supporting job creation.

The MEIF is the result of collaboration between the British Business Bank, the Department for Business, Energy and Industrial Strategy (BEIS), the Department for Communities and Local Government (DCLG) and 10 Local Enterprise Partnerships, including SEMLEP. It brings together new and existing funding from Central Government, the European Regional Development Fund (ERDF), British Business Bank and European Investment Bank (EIB).

Current finance options available include:

•small business loans valued between £25,000 and £150,000

•debt finance worth between £100,000 and £1.5million individual placements

For more information about the Fund, visit www.meif.co.uk

or contact SEMLEP’s Growth Hub on 01604 212696.

GRANTS

The Velocity Growth Hub runs a project, part-funded by the European Regional Development Fund (ERDF). The project is designed to support small and medium sized enterprises (SMEs) based in the SEMLEP area. As well as access to 1-to-1 support and a range of skills workshops businesses participating in the ERDF project can apply for grant funding to expand, invest and recruit.

The grant funding is exclusively for SMEs based in the South East Midlands Local Enterprise Partnership (SEMLEP) area: Aylesbury Vale, Bedfordshire, Cherwell, Milton Keynes and Northamptonshire.

Velocity Growth Revenue Grants (£1,000-£10,000)

This can fund up to a maximum of 33% of the total price of goods or services. This type of grant will support specialist consultancy, projects, goods and services related to increasing sales, improving productivity and profitability and improving business processes.

Grants have previously been awarded to support market research, website design, re-branding, marketing collateral, customer relationship management software and recruitment for hard-to-fill posts.

Amounts awarded will be based on a maximum of £5,000 for each job that is created by the applicant business.

Maximum Velocity Capital Grants (£5,000-£25,000)

Capital grants can fund up to a maximum of 25% of the total price. Project ideas include investment in technology or processes that facilitate growth and create jobs, such as plant equipment, new machinery, and an extension to land or premises.

Amounts awarded will be based on a grant of £5,000 for each job that is created by the project.

ACCESS SUPPORT

Looking to start, grow or develop your business? Call us on 0300 01234 35 or email [email protected] and we will take you through our business diagnostic process. Connecting you with the best support for your business needs.