SWLEP GPIF Loan Fund
SETsquared:
Swindon & Wiltshire Growth Hub Business Support Programmes
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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