Loans for Businesses
Getting the right type of finance for your business is essential. There are many different types available including loans, grants and investment - each of them designed to meet different needs.
Start-Up Loan Scheme
The Start-up Loan Scheme is a Government funded initiative that provides a business loan together with a mentor for people starting up a new business.
For more information please visit the: Start Up Loan Website.
Funding Circle is an online peer-to-business lending platform connecting businesses and investors, where businesses get fast business loans and investors earn returns on their investments. Funding Circle has funded over £330m in business loans so far and has created an estimated 16,500 jobs across the country. Furthermore, the UK Government has lent £60 million through Funding Circle during the past two years.
For more information please visit: Funding Circle
Enterprise Finance Guarantee
The Enterprise Finance Guarantee is a Government loan guarantee scheme. The loans are available from ordinary commercial banks and can be up to £1 million, repayable over a period of up to 10 years. The scheme is open to viable businesses with an annual turnover of up to £25m. Contact your bank for further details.
Grants to help Businesses
Forest & Tewkesbury Borough Leader
LEADER is a European Commission programme that offers grants to farmers, foresters, rural businesses and communities. The following themes are priorities:
- Farm productivity
- Micro enterprises and farm diversification
- Rural tourism
- Increasing farm or forestry productivity
- Culture and heritage
- Rural services
Grants are available from Autumn 2015 to 2020
For more information or to view the outline application, please visit Forest & Tewkesbury Leader website.
Innovate UK's national Innovation Voucher scheme helps businesses gain the knowledge they need to innovate and grow. An Innovation Voucher helps businesses to work with an external expert for the first time by paying towards the cost of their services for all types of innovation including:
- ideas for new or improved products, processes and services
- using design to improve your ideas
- managing your Intellectual Property
For more information please visit the: Innovate UK Website
Grants for Research & Development Projects
The SMART Grant for R&D programme assists businesses, including pre-start-ups and start-ups, to run Research and Development projects in strategically important areas of science, engineering and technology from which successful new products, processes and services can emerge. Three types of grant are available:
- Proof of Market (up to £25,000 grant)
- Proof of Concept (up to £100,000 grant)
- Development of Prototype (up to £250,000 grant)
For more information please visit the: TBAT Innovation website
Apprenticeship Grant for Employers of 16-24 Year Olds
The National Apprenticeship Service provides £1,500 grants to small and medium sized employers to take on new apprentices between 16 and 24 years old. The £1,500 is in addition to the training costs of the Apprenticeship framework which are met in full for young people aged 16 to 18 and 50% for those aged 19 to 24.
For more information please visit the: National Apprenticeship Service Website.
Funding for Young Entrepreneurs (Aged 16-30)
The Shell LiveWIRE programme offers free online business advice and funding to young entrepreneurs (aged 16 to 30) in the UK. Funding is normally delivered through a series of monthly Awards and the programme has helped over 600,000 people since it was created. For more information please visit the: Shell LiveWire Website
Childcare Business Grant Scheme
The Childcare Business Grant Scheme is to support self-employed people who want to set up their own childcare business and provides help with costs such as training, equipment and adapting premises. The grants offer £500 for those looking to start nurseries or look after disabled children. Please visit the: Childcare Business Grant Website.
Dealing with business debt
Problems Paying Tax Bills
HM Revenue and Customs' (HMRC) Business Payment Support Service is there to help businesses that are aware they may not be able to make a payment due in full before the payment deadline. For more information please visit the: HM Revenue & Customs Website.
Free Advice on Debt Problems
For free, confidential and independent and impartial advice on how to deal with debt problems, please click on the logos below:
Finance for Starting a New Business
In the current climate it is often incredibly difficult to source grant or loan funding to start a new business. However it is sometimes possible for people to meet certain criteria:
- If you have been unable to secure funding from High Street Banks, you may be eligible for a loan from The Fredericks Foundation. Further information can be obtained via the following link: The Fredericks Foundation Website.
- If you are unemployed and aged 18 to 30, you may be eligible for support and start-up loan funding from The Prince's Trust. To find out more please click the following link: The Prince's Trust Website.
- If you are aged over 50 and have been unable to secure bank funding, you may be eligible for a Business Start-Up Loan from PRIME (The Prince's Initiative for Mature Enterprise). Further information is available from: The PRIME website.
Gloucestershire County Council offers a range of services to support Gloucestershire organisations with funding, identifying funding opportunities and bid development. For more information, please visit the funding pages of the Gloucestershire County Council Website.
Enterprise Ventures - Coalfield Fund
The Coalfields Funds were set up to support the growth of businesses in England's former coalfield areas. For more information and to see if your business may be eligible for funding, please visit the Enterprise Ventures website.