Bolsover District Council Economic Loan Fund

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Bolsover District Council

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To support businesses within district to grow and thrive Bolsover District Council are providing loans to SME’s from a total fund of £150,000.

This will be a fixed-term loan with no early cancellation fees, no arrangement fees, no interest charged for the first 12 months and competitive interest rates thereafter.

Loans between £2,000 - £10,000 are available for a variety of projects, and can fund both capital and revenue expenditure. The repayment term can be between two and five years.

Loan applications will be assessed on a first come first served basis and provided on the basis of lender of last resort. Eligible applicants will have ambition to grow and be held back by their ability to capitalise their business proposals.

To apply for a loan, you must meet the following eligibility criteria:

  • Your business is located in Bolsover District. Or, securing the loan enables a move into Bolsover District.
  • You are a sole trader, partnership, or limited company.
  • You operate either as a small or micro business.
  • You are an established business of two+ years and can demonstrate growth.
  • You have business premises, i.e. you are liable to pay business rates (businesses getting small business rate relief are eligible).
  • You are able to demonstrate that the loan will support your plans for business growth. If your business has been adversely affected by the impact of Covid-19 and can demonstrate that the loan will help your business to recover from income losses then you may still be eligible.
  • You can show that the loan will be affordable at the time of your application.
  • Eligible projects are those that will support businesses to innovate, diversify, expand or develop, and achieve one or more of the following objectives
  • Carbon reduction and addressing climate change,
  • Making reasonable adjustments to premises or working practices and improving accessibility for all,
  • Improving and enhancing use of digital technology,
  • Safeguarding existing jobs and creating new jobs,
  • Maintaining or relocating to premises within Bolsover District.

For further information please visit the website or email regeneration@bolsover.gov.uk to arrange an informal chat about your proposal.

 

 

 

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