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Inverclyde Council Grant & Loan Support

Inverclyde Council - Grants & Loan Support

Inverclyde Council's financial year ends on the 31 March 2018, when its business grants and loans assistance will end for the 2017-2018 year. All applications need to be fully completed, signed off and processed before this date. What is on offer from the Council? ...

Small Business Assist Grant

Offers support of up to 50% of total costs (excluding VAT) to a maximum of £5,000 for capital expenditure on business development activities.

Eligibility Criteria: Open to all businesses with the exception of those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business activity. Must show a need for gap funding support.

Application Criteria: Completed application form, up to date Business Plan and accounts. Three quotes for the requirements. The grant provides 'gap funding' which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

New Marketing Grant

The New Marketing Grant offers support of up to 50% of total costs to a maximum of £1,000 (unable to pay for VAT) for all marketing activities. Some examples include:

Vehicle Wrap
Promotional material (leaflets, flyers, key rings, banners etc.)
Advertising (trade journals, business directories, magazines, vehicle signage)
Exhibition material
Direct mail campaigns
Developing company website (moving to a content managed system, search engine optimisation, developing and integrating social media)
Online advertisements/email campaigns

Eligibility Criteria: Open to all business with the exception of those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business. Must show a need for Gap Funding

Application Criteria: Completed application form, up to date accounts and possibly a Business Plan. Three quotes for the requirements.

New Start-up Grant

Offers support of 50% total costs to a maximum of £1,000 (excluding VAT) for capital expenditure on business development activities.

Eligibility Criteria: Open to new businesses trading from 0 - 6 months. Must show a need for gap funding support. Open to all business with the exception of those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business

Application Criteria: Completed application form plus up to date Business Plan, a Business Bank Account, UTR Number depending on status and a copy of Business Insurance Document. Three quotes for the requirements. The grant provides 'gap funding' which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Small Business Loan Scheme

Offers support through interest free loans repayable over three years up to a maximum of £5,000 (excluding VAT).

Eligibility Criteria: Open to all business with the exception of those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business activity. Must show a need for gap funding support.

Application Criteria: Completed application form plus up to date Business Plan and accounts. Three quotes for the requirements and an Experian Report. The scheme provides 'gap funding' which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Small Business Assist Training Grant

Offers support of up to 50% of total costs to a maximum of £2,000 (excluding VAT) for training which will have the potential to improve the development of the business in terms of turnover/profitability or employment. Training should be aimed at management and key workers.

Eligibility Criteria: Open to all business with the exception of those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business activity. Must show a need for gap funding support.

Application Criteria: Completed application form plus up to date Business Plan and accounts. Possible three Quotes for Training Requirement. The grant provides 'gap funding' which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Tourism Grant

Offers support of up to 50% of total costs £1,000 depending on project maximum £5,000 (excluding VAT) for business development type activity including improvements to services, facilities and marketing activities.

Eligibility Criteria: Must be a tourism business. Must show a need for gap funding support.

Application Criteria: Completed application form plus up to date Business Plan and accounts. Three Quotes for the requirement. The grant provides 'gap funding' which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Property Assistance Scheme

Offers support of up to 50% of total costs to a maximum of £10,000 (excluding VAT) for signage, security and structural improvements to business premises.

Eligibility Criteria: Proposals must be for premises which are in company ownership or on a minimum two year lease. Must show a need for gap funding support. Retail Businesses can apply.

Application Criteria: Completed application form plus up to date Business Plan and accounts. Three quotes for the Property requirements. Evidence that planning permission and/or building warrant requirements have been checked, applied for and approved where appropriate. The grant provides 'gap funding', which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Growth New Start Fund

Offers support up to a maximum of £1,000 (excluding VAT) towards start-up costs of new businesses. The grant can support the costs of a range of expenses including commercial rent, marketing, web-site development etc, but cannot be used for wages or stock.

Eligibility Criteria: The applicant must be working with a Business Gateway Advisor, trading no more than 12 months and have the potential to achieve a minimum annual turnover of £200k within three years of trading. Those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business activity are not eligible for the grant.

Application Criteria: Completed application form plus up to date Business Plan and at least two years financial forecasts (profit & loss, balance sheet and cash flow forecast). Must have a Business Bank account. Quotes for the requirement

Growth Company Development Fund

Offers support to help businesses meet specific business growth objectives up to £6,000 (excluding VAT). It can support capital expenditure, exhibiting at national trade shows or the costs of developing innovative products or processes. The purchase of furniture and consumables is not eligible for support.

Eligibility Criteria: The business must be working with a Business Gateway Adviser and operating from commercial premises for which there is a signed lease/rental/licence agreement in place within the Inverclyde Council area. Those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business activity are not eligible for the grant.

Application Criteria: Completed application form plus up to date Business Plan and at least two years financial forecasts (profit & loss, balance sheet and cash flow forecast). Must have a Business Bank account. Quotes for the requirement.

Business Loans Scotland

Offers loans up to £100,000. Businesses must demonstrate a funding gap, BLS will not be the sole funder of projects but will operate in conjunction with other lending agencies At least 50% of the funding package must be provided by the private sector Interest Rate of 6%
Loan term up to five years.

Delivered using the substantial Scotland-wide network of business advisers within Business Gateway and the Local Authority Economic Development teams
Full Online Loan Application System

Eligibility Criteria: Can support the following types of legally formed and trading businesses: Limited Companies, Partnerships including Limited Liability Partnerships (LLP's) with four or more partners, Partnerships including Limited Liability Partnerships (LLP's) with three or fewer partners (loans over £25,000 only), Sole Traders (loans over £25,000 only) Businesses may operate as a Social Enterprise or Co-operative, Must be a SME (small to medium sized enterprise) The Fund is unlikely to support a business where such support may create local displacement or achieve low additionality

The following sectors may not be eligible for support: Sale of Motor Vehicles, Real Estate / Speculative Property Development, Professional Services, Social and Personal Services, Local Services.

Application Criteria: Completed application form online plus up to date Business Plan and accounts. Quotes for the requirements Business Loans Scotland reserves the right to seek any form of security as appropriate. This may include a Standard Security, a Bond and Floating Charge, a Personal Guarantee or any other form of security deemed suitable.

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