Scale Up Staffordshire
Overview
Scale Up Staffordshire is a new programme designed to support ambitious SMEs that have been operating for three years or more and are Staffordshire and Stoke-on-Trent based — or preparing to relocate here.
The programme offers interest free loans (subject to status) to help businesses invest in key capital improvements that drive growth, productivity, cost reduction and efficiency.
What we are offering:
- 80% loan (20% must be self-funded)
- £5,000 up to £100,000 loans
- 2-4 year payback period
- Interest free
- No administration fee
- Projects for capital purchases only
Eligibility Criteria
- Must be based in or relocating to Staffordshire or Stoke-on-Trent.
- Must be trading for at least 3 years.
- Is an SME. (An SME is any organisation that has more than one or fewer than 250 employees and a turnover of less than €50 million or a balance sheet total less than €43 million.)
- Does not receive public funding to operate.
- Has not received over £315,000 in loans in the current and previous two financial years.
- Can be identified as not ‘ailing or insolvent’ at the time of application. A financial check, through CreditSafe, will be carried out.
- You must have a minimum 2-year payback period.
- For projects that involve changes to the fabric, fixtures, or fittings of a building, the business must either own the property or hold a lease with at least 2 years remaining.
Eligible Projects
Projects that can be supported are listed below under four themes which support growth, efficiency, productivity and cost reductions. For capital purchases only.
- Site Development
- Energy Efficiency Upgrades
- Equipment Purchases & Replacements
- Productivity Boosting Improvements
Contact Us
To express your interest please email ScaleUp@staffordshire.gov.uk
