The Coast to Capital Growing Places Fund is currently fully committed to loans for businesses in our area. The Growing Places Fund is designed to be a revolving fund, so the process of receiving and evaluating projects will be an ongoing one. However, this may not suit potential projects as we cannot currently guarantee when funds will be available.
Loans will be prioritised for projects that directly or indirectly contribute to Coast to Capital's eight economic priorities.
1) Delivery of prosperous urban centres
2) Development business infrastructure
3) Invest in sustainable growth
4) Create skills for the future
5) Pioneer innovation
6) Promote better transport & mobility
7) Improve digital network capability
8) Build strong national & international identity
In addition to the above the following criteria should be noted.
- The investment must be wholly in the Coast to Capital area
- To ensure added value the project must be unable to go ahead without the additional investment from Coast to Capital
- The project must be able to commence quickly
- There must be a clear mechanism by which the loan can be repaid
- Minimum advance is £250k
- Project must demonstrate our loan will make the business stronger smarter & greener
- Security will be required
- Identification of match funding - the amount of other public or private funding that will be put alongside the Coast to Capital investment to commence the project
- Projects should show how they contribute to sustainable development & minimise environmental impact