If you are a local business based in Allerdale looking to expand and develop but have struggled to get backing from mainstream lenders, the Allerdale Business Support Fund could provide you with an alternative.
Enterprise Answers have partnered with Allerdale Borough Council to create a £500,000 loan fund to which Allerdale businesses can apply to support their growth and development plans.
Businesses applying for a loan would be expected to demonstrate through a business plan how they intend to grow, develop and upskill their workforce.
The fund can provide loans of between £10,000 and £75,000 with repayment terms of up to eight years. To see if your business is eligible to apply for a loan please see the qualifying criteria below.
- The business is based in, or operating from, within the Borough of Allerdale.
- The business is experiencing difficulty in obtaining finance from conventional sources.
- The business can demonstrate future growth potential over a three year period.
- The business can create new employment or safeguard existing employment if at risk.
- The business should have a clear remit and policy to upskill, train and develop employees with a view to enhancing the business, which reflects in improved employee remuneration.
Loans offered by Enterprise Answers are for business purposes only.
Your home is at risk if you do not keep up the repayments on any loan secured by it.
For further information please contact us