£1 million loan fund opens to applications
A £1 million loan fund has opened to applications from businesses in Swindon and Wiltshire.
Growing Places Infrastructure Fund (GPIF) programme – a capital-only loan fund designed to unlock sustainable economic growth across the region – has been launched by The Swindon and Wiltshire Business Growth Unit at Wiltshire Council.
The GPIF provides loan investments to businesses based and operating in Swindon and Wiltshire to support the capital elements of projects that are currently unable to proceed due to infrastructure or commercial constraints.
Loan values can range from £150,000 to approximately £1 million, with repayment expected usually within five years.
Funding is aimed at projects that:
- Deliver measurable and sustainable economic growth within Swindon and Wiltshire;
- Align with the strategic objectives outlined in the GPIF Prospectus;
- Demonstrate readiness to proceed at pace;
- Offer strong repayment certainty; and
- Represent good value for money.
Applicants must be able to provide:
- Three years of financial accounts;
- A business plan for the proposed investment;
- A detailed cashflow forecast;
- Information on security offered and any other lending arrangements.
Expressions of Interest need to be submitted by midday on February 3, after which selected applicants will be invited to submit a full application.
For information, visit swlep.co.uk/gpif
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