Swindon & Wiltshire News
Swindon and Wiltshire firms offered up to £1m to break growth deadlock
Businesses in Swindon and Wiltshire can now apply for loans of between £100,000 and £1 million to unlock investment projects that have been held back by infrastructure problems or commercial barriers.
Wiltshire Council’s Swindon and Wiltshire Business Growth Unit has opened a new call for proposals through its Growing Places Infrastructure Fund (GPIF). The fund provides capital loans to businesses based in, and trading from, the area, with repayment terms of between three and seven years.
The council says the funding is intended to support projects that can deliver measurable, lasting economic growth locally. Applicants must also show that their proposals align with the fund’s prospectus, can start quickly, offer value for money and can be repaid.
Loans must be secured, and the fund will not lend to companies or projects that are pre-revenue. Businesses will need to submit financial accounts for the past two years, a business plan for the proposed investment, a detailed cashflow forecast, and information about the security offered and any existing borrowing.
The application process begins with an Expression of Interest, in which businesses outline their project. Those meeting the initial criteria and passing credit and fraud checks may then be invited to submit a full application, which will undergo detailed due diligence.
The fund is aimed at firms with viable expansion or investment plans that are ready to proceed but need capital support to overcome a specific obstacle. Potential uses could include site infrastructure, premises improvements or other capital investment that enables a business to grow and create economic value in the region.
Wiltshire Council said the latest round represents an opportunity for businesses with investment-ready projects to access finance while contributing to growth across Swindon and Wiltshire.
“If your business has a viable project that is ready for capital investment and you can provide security for a loan, we’d encourage you to apply,” the council said. “It’s a chance to help grow the economy of Swindon and Wiltshire.”
