FINANCE AND GRANT FUNDING
Finance Brokerage & Grants
As new and young businesses will require finance to grow, AD:VENTURE will offer a variety of financial support including access to grants and loans.
You’ll be given impartial advice to help you decide what the best finance option for you and your business really is. You’ll get support from your advisor on finance brokerage and assistance navigating the funding landscape, helping you achieve your growth goals.
AD:VENTURE GROWTH GRANT – For businesses trading up to 36 Months (Or pre-trading)
The Growth Grant supports young businesses that trade primarily with other businesses (B2B)
Business grants are available between £1000 and £25,000 to support capital growth costs, with businesses required to contribute a minimum of 50% of eligible costs.
Businesses must be able to show they have the aspiration and capacity to grow and create employment.
Growth ambition should be evidenced with a sound business plan and a cash-flow forecast.
You MUST be registered on the programme to access the Growth Grants and will need to discuss your business and your plans with an advisor who will determine your suitability.
Business Enterprise Fund
The Business Enterprise Fund (BEF) is a social enterprise that supports small businesses with flexible finance to help them thrive and grow.
Start Up Loans Overview
BEF are Delivery Partner for the Government’s Start Up Loans Programme. Start Up Loans are designed for emerging and growing businesses from pre-start to 2 years trading.
- £500 to £25,000 per director, (£100,000 maximum per business)
- Personal loan – unsecured
- 6% fixed interest
- Loan term up to 5 years
- No penalty for early repayment
- Mentor support on offer in 1st 12 months
Northern Powerhouse Investment Fund Loans Overview
The Business Enterprise Fund manage the Northern Powerhouse Investment Fund’s Microfinance Fund for Yorkshire and the Tees Valley. These loans are perfect for businesses purchasing equipment, employing staff or scaling up.
- Up to £100,000 unsecured loans
- Interest rates between 8% and 18%
- Flexible terms