Kent County Council has launched a new fund helping support small and medium sized businesses across Kent and Medway.
Kent County Council is offering 0% loans between £50,000 and £500,000 to SMEs located in Kent and Medway.
Areas eligible for the loan include; Ashford, Canterbury, Dartford, Dover, Gravesham, Maidstone, Medway, Sevenoaks, Shepway, Swale, Thanet, Tonbridge and Malling, and Tunbridge Wells.
The scheme intends to deliver £5m of investment to businesses across these areas in 2017/18, and is funded by loan repayments from Kent County Council’s previous Regional Growth Fund schemes (Expansion East Kent, Tiger and Escalate).
You can apply for a loan if you:
are a sole trader, partnership, limited company or a not-for-profit business
are located or seeking to locate in Ashford, Canterbury, Dartford, Dover, Gravesham, Maidstone, Medway, Sevenoaks, Shepway, Swale, Thanet, Tonbridge and Malling, and Tunbridge Wells
are seeking a loan between £50,000 and £500,000
are creating or safeguarding jobs
currently have fewer than 250 employees
are developing or expanding products, services, or processes that will lead to new jobs, deliver business growth and improve productivity
can provide security or personal guarantees as required - when security is required it will need to be provided for at least a value equal to the loan capital and administrative charges over the term of the loan
for all loans between £50,000-£99,999, security or personal guarantees may be required on a discretionary basis
for all loans of £100,000 and over, security or personal guarantees will automatically be required
Work in an eligible sector (see list of exclusions below).
Pre-applications can be submitted until 19 January, although there may be further bidding rounds during 2017.