Small businesses in Northampton can apply for loans
Small businesses in Northampton are being given an option to apply for money if they are finding it difficult to get support from banks and other financial institutions.
This week letters are going out to over 1,500 small businesses across the town to inform them that they could apply for a small loan to help their business grow. New businesses are also welcome to apply for a loan that could help them start up.
Northampton Borough Council and Enterprise Loans East Midlands are jointly promoting loans of £3,000 to £20,000, which are repayable over five years. The loans are available to individuals and organisations who are looking to start up or grow their business.
This money could be used to buy equipment, pay for services, or support a project. All applications are accessed by an independent panel and the borrowed amount must be supported by a 30% contribution.
Councillor Richard Church, Northampton Borough Council cabinet member for Planning and Regeneration said: "This scheme will offer valuable help town's business community, and we know it can be difficult to get finance in the current financial climate. There are small businesses in the town who are ambitious and want to grow and this money could make all the difference to them."
There will be two drop-in sessions for any businesses looking for more information about the scheme. The sessions are being held at the Grosvenor Centre on Wednesday 7 and Thursday 9 April from 10am to 3.30pm. Alternatively anyone interested in finding out more about the scheme can contact Chane Briant at Enterprise Loans East Midlands on 0845 602 7355 or visit www.emda.org.uk/smallloans.
Posted by: Northampton Borough Council
