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Carlisle City Council is providing local businesses with free access to its local business support and grant portal provided by Open4Business. This is tailored for the Carlisle area and includes local, regional and national schemes.

Business can also search for funding relevant to their size and sector. To use the portal, you will first need to register with Open4Business.

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Grantway is a new grant search portal available completely free of charge.

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Government Expands Start Up Loans for New Businesses

Business, Enterprise and Regeneration

27 September 2022/Categories: Grants_and_Funding

Enhanced support is now available through Government backed loans for innovators and entrepreneurs starting out in business.

The Government has announced enhancements to the eligibility criteria of the Start Up Loans initiative. The £884 million scheme is designed to help innovative new businesses starting up across the UK.

Start Up Loans provide a fixed interest rate of 6%, as well as mentoring, support and funding to aspiring business owners, providing support to those who might find it difficult to secure loans from traditional lenders. The average loan is around £7,200, although loans of up to £25,000 are available.

With 33,000 new loans available, the programme’s eligibility is being expanded to support businesses that have been trading for up to three years. Previously the scheme supported firms trading up to two years. Businesses can apply immediately under the new criteria.

Alongside this, a new second loan will be available to businesses operating for up to five years, providing eligible firms between three and five years with Government-backed finance to support their expansion.

Michelle Ovens CBE, founder of Small Business Britain, said:

'The expansion of funding opportunities for start-ups and growing businesses will certainly be welcomed by small firms as a positive move to unleash their potential.

'Access to finance is vital for entrepreneurs to grow, and with rising costs and challenges across the board they need all the help they can get right now to realise their ambitions.'

This is an ongoing programme. Applications may be submitted at any time.

 

How To Apply

This is an ongoing programme. Applications may be submitted at any time.

For more information, visit the Start Up Loans website.

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