ULTIMATE GUIDE TO FINANCE & BUSINESS SUPPORT
Loan schemes
SWLEP GPIF Loan Fund
Minimum loan : £ 150,000 Maximum loan : £ 1.25m
The Swindon & Wiltshire Local Enterprise Partnership ’ s ( SWLEP ) Growing Places Infrastructure Fund ( GPIF ) is a capital only fund of circa £ 8 million used to invest in projects that create jobs and deliver economic growth to the Swindon and Wiltshire area .
It is a repayable loan , with negotiable repayment terms , that helps accelerate the delivery of projects that stimulate innovation , enterprise , growth or productivity gains .
Loan payments are made in line with the development schedule drawn up in consultation with the SWLEP .
There is an open call for applications . These are assessed by a Working Group that will make a recommendation to the SWLEP Board , which meets every two months .
The minimum loan is £ 150,000 to around £ 1.25 million , with the term usually around four years . The interest rate reflects the nature of the project and can be loaned on an unsecured basis and to pre-revenue firms .
Projects supported to date include the expansion of manufacturing lines ( with funds to expand or alter buildings and purchase new plant and machinery ), investment in research and development capability and the creation of co-working space . The SWLEP has so far loaned £ 6.93 million across ten projects , and all the loan beneficiaries have been SMEs , with the majority employing less than 25 staff .
The loans have supported companies that would have not been able to raise the funds through traditional High Street lending , for example because of a lack of collateral or a short trading history .
To date , the loan programme has led to the creation of circa 160,000 sq . ft of new productive floorspace and approximately 100 new jobs . The job numbers will rise further as companies complete their projects , with a forecast of an additional 565 new jobs in the next three years .
To find out more contact Phil Clement , Head of Investment & Export at the Swindon & Wiltshire Local Enterprise Partnership . Email : phil . clement @ swlep . co . uk or call : 01249 477287 .
For more info : www . growthhub . swlep . co . uk
Business support
SETsquared :
High-quality , fully-funded business support for founders in Swindon & Wiltshire
Swindon & Wiltshire Growth Hub Business Support Programmes
Entrepreneurs Workout ( start-ups ) Learn how to lay the foundations for a profitable and successful business , develop your pitch and get lots of really useful feedback from experienced mentors . Next dates : 4th , 5th and 8th October 2021 , online To find out more and apply visit : www . setsquared . co . uk / EW or email : info @ setsquared . co . uk
Innovation Workout ( growing businesses ) Find new areas for innovation and growth , new markets , new products and different financial models to accelerate your growth and become more profitable . Next dates : 20th and 21st September 2021 To find out more and apply visit : www . setsquared . co . uk / workout or email : info @ setsquared . co . uk
For more info : www . setsquared . co . uk
SME Competitiveness Programme This programme offers free and impartial advice to both start-ups and established SMEs . Key support areas include business planning , advice for employing new staff , developing new products and growing your business . To find out more email : hello @ swgrowthhub . co . uk or call : 01249 477287 ( Please also see more information about the programme on page 10 )
Peer to Peer Networks Peer Networks is designed for business leaders who want to grow and develop their organisation for future success . The programme is open to SME businesses that have operated for at least one year , have at least five employees , a turnover of at least £ 100,000 and an aspiration to improve .
The programme is establishing diverse cohort groups to collaboratively work through common business issues , overcome challenges and recognise and act on new opportunities . By joining the Peer Networks programme , you can build a trusted network of connections and improve your long-term personal and business performance .
To find out more contact Brea Woods , email : brea . woods @ swlep . co . uk
For more info : www . growthhub . swlep . co . uk
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