Interest Free Loan support opportunity for Medway businesses

Posted on Tuesday 5th March, 2013 by

I would like to draw your attention to an exciting new business development programme, which could potentially benefit your company, and has been made possible thanks to government finances through the Regional Growth Fund.  

The TIGER[1] funding scheme is a £20 million fund offering interest free loan support to Medway and North Kent businesses that can demonstrate their ability to expand and create new employment as a direct result of the financial support.   

Interest free loans from £10,000 up to a maximum of £2.5 million can be sought, alongside business support and advice. The scheme will be open for applications from 8th April 2013, but in the meantime you can register your interest at http://bit.ly/TIGERLOANS  

We have targeted businesses that we believe have excellent potential to bring forward good quality applications that support the growth of high quality, skilled jobs, which can further enhance your business competitiveness.  

We believe your business should consider making an application to the scheme and would be pleased to provide you with business advice to support your application.

TIGER funding can be used to support a range of business requirements, including:

• Costs of equipment, plant & machinery for delivery of the business requirement

  • · Costs of expanding into new business premises and facilities

• Costs of software and other intangible assets
• Costs of key staff employed full or part‐time for the business requirement
• External specialist costs (including costs of specialist researchers and consultants)
• Licensing and regulatory costs
• Costs associated with product marketing, including export advice  

In addition, the government has recently announced more attractive tax breaks relating to capital expenditure. Please look at the HMRC web site for further details – http://bit.ly/hmrctaxbreaks  

There is no guarantee that businesses will receive a TIGER loan, and every application will be based on its merits, including the ability to deliver jobs growth.  

I hope to welcome you to the Medway TIGER launch event at Innovation Centre Medway on Thursday 21st March from 4pm. 

Yours sincerely  

Clem Smith

Head of Economic Development & Social Regeneration, Medway Council, Development Economy & Transport, Gun Wharf  Dock Road, Chatham, Kent,  ME4 4TR, Telephone: 01634 338177

 


 

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