Finance to manage your business during Covid-19 crisis
Find out about finance options, including the Coronavirus Business Interruption Loan Scheme, and grants, as well as other support to deal with the current crisis.
Finance
There is a huge range of local, regional and national funding options to support your start-up and growth plans. Below is a small selection of options. There’s a lot more. Get in touch with the Growth Hub team today to find out what’s available for your business.
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Latest Finance Options
You can view some of the latest grants, loans and alternative finance options here. Get in touch today to find out what’s available for your business.
Business Growth Grants
There’s a new Business Growth Grant to finance growth or expansion plans providing capital grants from £2,000 to £25,000 making up 35% of total project cost.
Grants
Non-repayable funding for your business towards the costs of a project or equipment that meets specific criteria and eligibility.
Business Growth Grant
Grants from £2,000 up to £25,000 are available providing 35% towards the cost of capital projects (e.g. new machinery, tools, premises improvement or expansion). A Business Gateway adviser will support you throughout the process.
SPRING from The iNet
Supporting Productivity Innovation & Growth - SPRING provides grant funding towards external costs of projects aiming to introduce new capabilities, enhanced capacity or a significantly improved product, process or service.
PROSPER from The iNet
Grant funding towards external costs of innovation and product development projects. Up to £40,000 on capital projects with 30% contribution and £12,000 on revenue projects with 31% contribution.
Green BELLE
Phase 2 is now open – offering grants from £1,000 to £7,000 to eligible SMEs in Leicester and Leicestershire towards the cost of energy efficiency measures.
Digital Growth Programme
Technology Grant Fund offering from £2,000 to £25,000 at 35% intervention rate towards the total project cost and support for businesses in the effective use of digital technology solutions.
Leicester Innovation Hub
Innovation vouchers up to £4,000 are available to use with the University of Leicester for businesses interested in developing new products, services and processes.
Manufacturing Growth Programme
Supporting SME manufacturers to grow by identifying, understanding and removing barriers to growth and enabling sustainable business improvement. Grants up to 35% towards an improvement project, grant value starting from £1000.
NBV Grant for Enterprise and Grant for New Business
Grants of between £1000 and £2500 are available. This is for a maximum of 25% of eligible costs. Thus, in order to access the business grant, the minimum project spend is £4000.
Coalville market traders
NW Leicestershire District Council have a small grants programme to help support growing businesses on Coalville Market.
Exploring Enterprises
Fully funded support for 18-30 year olds from the Prince’s Trust that want to explore setting up their own business. Support includes workshops, one-to-one support, a £250 market test grant and access to low interest start up loans up to £5000.
Loans
Long and short term, repayable funding for your business to encourage growth, often with specific criteria and eligibility.
Sporting Capital Fund
The £3m Sporting Capital Fund provides loan funding of between £50,000 and £150,000 to eligible organisations. The loans are available to fund organisations that make a difference to individuals and communities through sport.
First Enterprise Small Loans for Business
Provides business loans to individuals, aiming to support good business ideas that could be difficult to fund through other means. Loans from £3,000 to £50,000 are available with 30% contribution required from the applicant.
Funding Circle
Funding Circle is the world’s leading marketplace exclusively focused on small businesses. Loans are available from £5k to £1m directly from a wide range of investors, including more than 44,000 people, the UK Government, local councils, a university and a number of financial organisations.
Invest to Grow
£16m East Midlands wide funding available to SMEs - loans and grants ranging from £15k to £250k to cover 30% of a project cost.
Midlands Engine Investment Fund
A new £250m Midlands Engine Investment Fund aimed at boosting the region’s economy and supporting the growth ambitions of its 460,000 smaller businesses.
Sir Thomas White Charity
Leicester based charity providing interest free business loans for under 45s of up to £20,000 for small businesses based in Leicestershire and Rutland.
Start Up Loans
Government backed start-up loans programme offer £500 up to £25,000 over a period of 1-5 years. Loans charged at 6% interest with no set up or early repayment fees with 12 months of free mentoring.
Alternative Finance
Commercial finance options for businesses from high street banks and tools to help find what you’re looking for.
Better Business Finance
Impartial information and support to businesses and entrepreneurs looking to develop and grow. BBF works with a number of industry partners and membership institutions,
Business Growth Fund
BGF is an investment partner for growing companies in every sector of the economy. They provide the tools you need to grow, from funding to expertise, while letting you set the course.
Business is Great
Help for businesses to find out how to access affordable and appropriate finance as well as more general guidance.
Funding Options
Funding Options helps UK firms access business finance, working directly with small businesses and their trusted advisers.
Gov.UK
A useful tool for business users who know what they are looking for. It provides information on government-backed support and finance for business.
British Business Bank Finance Hub
Designed to help businesses understand the financial landscape and ultimately access the right finance for their growth potential. Independent, impartial and digital hub for growing UK businesses.
Finpoint
Finpoint is a funding platform that helps sole traders and SMEs find the right lenders and get access to finance options that are most relevant for their business with just one simple online application.