Grants and Loans

Shropshire Business Enterprise Fund

The fund has been set up by Shropshire Council to support new and developing Shropshire Businesses respond to the current difficulties in obtaining finance, and to counter the impact of the recession, including the high level of empty shops. Companies can apply for support under three schemes
- Business Start up Grant
- Business Booster Grant
- Retail Business Grant

Funding is available up to £5,000 and the fund is the only scheme of its type currently available throughout Shropshire . The deadline for the next round of grant awards is 4th October 2010 - subsequent calls will be advertised throughout 2010. To find out further information and details of eligibilty criteria visit Shropshire Council's website by clicking here or contact 01743 252531

Index vouchers

A new round of vouchers has been announced, applications can be made and businesses are invited to apply for an Innovation Voucher worth £3,000 to purchase academic support for an innovation of your choice. To find out more about the new round of vouchers click here

The scheme awards West Midland SME's a £3000 voucher to purchase academic support for an innovative project at any of the regions 13 universities. Their aim is to help with a problem or challenge your business might have. Innovation is not just about technology; it’s about doing things differently to improve effectiveness and/or efficiency. This is a great opportunity to use the voucher to purchase academic support for your business at zero cost to your business.

Contact: 0121 204 3883 or click here for further information

The Early Advantage Fund

This fund is financed jointly by Advantage West Midlands and the European Regional Development Fund but is managed by Birmingham-based specialist venture capital company Midven.

Emerging small and medium enterprises with ambitions to grow are urged to find out if they are eligible for an investment from this £8 million fund which is aimed squarely at helping today’s generation of entrepreneurs become tomorrow’s world beaters.

Eligible companies must be:

Trading or carrying out operations in the West Midlands either currently, or as a result of the investment.
An early stage small to medium enterprise typically employing less than 10 staff and turning over less than £500,000 with few tangible assets.
Capable of achieving profitability with less than £400,000 of investment, or of raising further equity on the basis of milestones achieved.
Businesses not eligible to receive investment from the fund include those in property and retail.

For further information please visit http://www.midven.co.uk/

Apprenticeship Scheme for 16 and 17 year olds.

A new Government Grant scheme has been launched via Jobcenterplus, which will make available grants of up to £2 500 for new Apprenticeship places.

For further detail of the scheme please click here

Rural Enterprise Grant Scheme ( REG )

Capital Grant programme available to farmers and specific rural micro-businesses in the West Midlands region. REG can fund small scale diversification and business development projects for the benefit of rural businesses.

Funds are available for eligible applicants for investments in environmental technologies, food and drink, tourism and livestock related activities.

Applications can be for 40% of eligible costs up to max grant of £62,500. Remaining 60% must be from the private sector. Grant administered by Herefordshire Council.

For more information email dmc@hereforshire.gov.uk or contact 01432 383616
Or contact a RDPE manager at RDPEEnquiries@advantagewm.co.uk

Grant for Research and Development

A Solutions for Business product, helping individuals and SME' to research and develop technologically innovative products and processes. This discretionary grant is available throughout the West Midlands . 5 grants available. Proof of market £5 - £20k 60% rate. Micro £5 - £20K 45% rate. Research £20 - £100K 60% rate. Development £20 - £250K 35% - 40% rate. Exceptional £250 - £500K.

Contact: 0121 503 3230 or click here for further information

Grant For Business Investment (GBI)

GBI is a form of form of financial assistance available to businesses located in Assisted Areas in England to support their expansion, modernisation, rationalisation and diversification of such businesses. For Shropshire GBI is restricted to 20% of eligible expenditure for small enterprises (below 50 employees) and 10% for medium sized (below 250 employees)

Contact: 0121 380 3500 or click here for further information

Strategic Investment Grant

The Strategic Investment Grants are funded through the Rural Development Programme for England and have been extended and re-launched. Grants of £62,500 and above are available to land based businesses and can fund large scale and collaborative projects to improve the competiveness of the agricultural and forestry sector and improve the quality of life in rural areas and diversification of the rural economy.

Contact: 0121 380 3500 or click here for further information

Small Business Rate Relief Scheme

Non Domestic rates reduced by 50% where business premises is the only such business premises occupied by the ratepayer in England and has a rateable value of £5000 or less.

Contact: 0345 678 9003 Email: business.rates@shropshire.gov.uk

Impetus Loan Scheme

Impetus is a local Community Development Finance Institution that provide loans to enterprises that have been unable to secure sufficient funds from mainstream sources. They do not compete with other lenders but instead seek to fill the gap in the finance market that inhibits enterprise development.

Contact: Tel/Fax: 01386 556000

Landskills West Midlands

A £5.4 million rural training initiative to raise skills in the farming and forestry sectors, delivered through Lantra, the Sector Skills Council for the environmental and land based sector. It provides grants of up to 80% of project costs to land-based businesses to help them obtain the essential skills and knowledge needed to enhance their competitiveness.
Further details are available on 0845 707 8007 or by emailing connect@lantra.co.uk

RE-THINK

RE:think Energy is a renewable energy capital grant scheme which can offer Small to Medium Sized Enterprises (SMEs) grants to assist with feasibility studies and the installation of renewable energy technologies such as biomass heating, wind turbines and solar thermal units.

Contact 01743 277130 or email info@rethinkenergy.org.uk

Energy Efficiency Loans

The Carbon Trust has announced that it has doubled the maximum size of its interest-free energy efficiency and renewable energy loans from £100,000 to £200,000.

They can help with the cost of purchasing equipment that delivers energy savings, including renewable energy equipment such as solar heating, biomass boilers and ground source heat pumps. Loans are available to SMEs that have been trading for at least 12 months .
Contact 0800 0852005 or click here for more information

Transition Loan Fund

A total of £4 million is available through this scheme. individual loans will range between £50,000 and £250,000. The loans will be run on a commercial basis.

What's it for?
The fund aims to offer viable business loans to help small and medium-sized enterprises in the West Midlands that are struggling to obtain credit due to the current economic crises. It has been set up in response to calls from businesses in the region that they need short-term funding in order to sustain and develop their businesses in the credit crunch. Many are finding it difficult to obtain this support from banks and other traditional routes.

Who is eligible?
The money has been set aside for small and medium-sized businesses in the West Midlands. The Transition Loan Fund will run alongside a number of other financial schemes for businesses currently operated by Advantage West Midlands.

The fund will be run by The Advantage Transition Bridge Fund. To apply contact: Paul Wheeler or Norman Gascoigne at the Advantage Transition Bridge Fund. Tel 0121 2008195 or 07789437317 or e-mail: paul.wheeler@advantagebridgefund.com or norman.gascoigne@advantagebridgefund.com

Selective Finance for Investment in England

Selective Finance for Investment (SFIE) is a form of financial assistance available to businesses located in Assisted Areas in the UK for investment in capital expenditure and is run by Advantage West Midlands in our region.

SFIE is normally given in the form of a grant payable in installments on the achievement of capital expenditure and job creation or preservation targets appropriate to the project.

The amount of assistance which can be provided by Advantage West Midlands ranges from £10,000 to £1,999,999.

Applications above this have to be made directly to the DTI.

West Midlands - Arrow Small Business Finance

The loan guarantee scheme formerly known as the Arrow Fund has recently re-launched as Arrow Small Business Finance.

Along with a new name, the loan provider is also sporting new guidelines and has extended the fund to cover the whole of the West Midlands.

Arrow provides loans to sole traders, partnerships, social enterprise and limited companies (new and existing). Loans can be used to purchase:

- commercial vehicles for use within the busines
- equipment
- advertising
- signage
- insurance
- refurbishment
- stock
- working capital

Applications may be submitted at any time. Further details can be found on the Arrow Fund website

West Midlands Finance

Westmidlandsfinance.com has been set up to help West Midlands businesses find and access different types of funding to develop and grow.

The site provides comprehensive financial information for West Midlands SMEs.

Funding website available

SME’s can take advantage of a big opportunity to find funding to help them over-come the credit crunch. Funding expert’s j4b are offering companies free access to all the features on their funding website www.j4bGrants.co.uk which are usually only available to subscribers.

The j4bGrants website includes Europe’s most comprehensive database of business funding opportunities. Bringing together millions of pounds worth of grants, loans, awards, venture capital, and other funds that are available to firms.

Businesses can register their details on www.j4bGrants.co.uk and search the database against a set of specific criteria, such as industry sector or location. They can then view the full results, which will give them an in-depth rundown of key information such as eligibility, application procedures and who to contact.

Arts Council England, West Midlands launches Digital Content Development (DCD) Programme

The Digital Content Development (DCD) Programme is a three year Arts Council England, West Midlands programme to encourage arts organisations in the region to develop imaginative, bold and ground-breaking approaches to the creation of digital content that will develop and deepen engagement with new audiences.

The programme is directed at organisations only, not individual practitioners.

DCD has budgets of approximately £80,000 in financial year 08/09, and approximately £160,000 in financial years 09/10 and 10/11 (subject to spending review approval). DCD sets no limit on the scale of investment it is prepared to consider for any project.

DCD will work in parallel with the Channel 4, Advantage West Midlands and Screen West Midlands 4IP programme. DCD support may be used as partnership funding by arts organisations wishing to develop an application to 4IP.

Details of eligibility and assessment criteria and how to apply to the programme are set out in the DCD Programme Application Guidelines document www.artscouncil.org.uk

Equity based finance / Venture Capital Schemes

Mercia Technology Seed Fund

The Mercia Technology Seed Fund (M TSF) is a £12.8 million venture capital fund that benefits from a mixture of public- and private-sector investors.
Tel: 0121 236 8855

Advantage Early Growth Fund

Venture capital investment for early stage companies in the West Midlands. The £9m Advantage Early Growth Fund is a region wide capital co-investment fund set up with UK government to assist early stage West Midlands with growth potential.
http://www.aegf.co.uk/index.php/contact-us

Business Angel Networks

Advantage Business Angels

Got an exciting vision for your business but lack the funds to make it happen? You could be speaking to their investors in 10 days if your business plan is up to scratch.
Contact: 0871 231 9911

Beer and Partners

Beer & Partners is the leading source of Venture Capital and Business Angel Investment for growing SME businesses in the UK.
Contact: 08701 633033

Minerva Business Angel Network

Minerva raises finance from suitable banks, venture capital funds and the business angels.
Contact: 024 76323114

Central England Business Angel Network

Central England Business Angels, a no win, no fee Angel Network. Recognising high entrance fees to access Business Angels can be prohibitive to an emerging company, so CEBA only charges a success fee to companies which are investor ready.
Contact: 02476 323233

Investbx

Raising equity for local SMEs, Investbx incorporates a stock market for West Midlands based companies.
Contact: 0121 233 4903.