Over recent years, funding for businesses has become more difficult to source and secure. Here in South Lakeland, we endeavour to keep you informed of any new initiatives and funding schemes which may be available. Please keep an eye on this website, and sign up to receive our Invest in South Lakeland e-newsletter, to make sure you don't miss out.
The LEP has set aside £1m from the Cumbria Infrastructure Fund to establish the Small Business Development Loan. The loan, of up to £150,000 at a 1% interest rate, is open to small and medium businesses for capital projects which create new jobs.
This is a revolving fund, not a grant. Applicants must demonstrate that the project for which funding is sought is viable, that it can create jobs, and that the loan can be sufficiently repaid.
Regional Growth Fund
Cumbria Local Enterprise Partnership is keen to offer advice and support to bids to the Government’s Regional Growth Fund, aiming to make sure that bids adding value to Cumbria, and meeting the RGF criteria, are helped on their way.
Businesses are currently encouraged to get ready for Round Five of the Regional Growth Fund which the Deputy Prime Minister has announced will commence in October.
Find more available funding by following the links below:
Help with finding finance
Business Finance and Support Finder - Find business finance, support, grants and loans.
Business Finance for You - A website that brings into one place a wide range of funding providers across Britain, including - Business Angels, regional funds, government schemes and banks.
Finding Finance is a search tool to find finance from Community Development Finance Associations.
SME Finance Guide - BIS and the ICAEW have jointly produced a free guide to SME finance which sets out the main financing options and key issues to consider.