If you are a local Eden business looking to expand and develop but have struggled to get backing from mainstream lenders, the Eden Business Support Fund could provide you with an alternative.
Enterprise Answers have partnered with Eden District Council each contributing £250,000 to create a £500,000 fund to which Eden 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 £150,000 with repayment terms of up to 10 years. To see if your business is eligible to apply for a loan please see the qualifying criteria below.
For further details of the Eden Business Support Fund, please view the video by clicking on the link below;
- The business is based or operating from within the District of Eden.
- 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 at risk.
- The business must 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.
- The business must operate in key sectors such as tourism, agriculture, manufacturing, engineering, digital technology or renewable energy.
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.
*Please note that we only provide unregulated lending solutions of £10,000+ for Limited Companies and £25,001+ for Sole Traders and Partnerships.
For further information please contact us