Business Loans & Grants
Business Loans & Grants
Medway offers a programme of interest free loans to established businesses and grants to start-up businesses under its Partners for Growth programme:
Interest free loans
Medway's interest free loan scheme assists small businesses unable to fully fund their growth plans. It provides essential gap funding and eligible businesses also benefit from a 6 month repayment holiday at the start of the loan term.
A Business Adviser will work with you on a one-to-one basis to develop your loan application and business plan, although you will be expected to provide the detail and to write the documents.
The interest free loan may be available to you if your business is:
- Located in or has secured premises within Medway at the time assistance is given
- Able to demonstrate a minimum of two years profit (not necessarily in the last three years)
- Able to produce a reasonably researched business plan and costed cash flow forecasts for the proposed growth
- Able to present a business plan showing growth, employment and/or profit
- Able to demonstrate a previous period in which the business successfully managed to grow
There is a set of criteria that must be met in order to qualify for the start-up grant. You can discuss the current criteria requirements with your Business Adviser or the Programme Coordinator below.
Find out more
For more information or to discuss your plans please contact the Programme Coordinator:
Maria Green, BSK-CiC
Tel: 08457 226655
Wayne Saunders, Medway Council Economic Development
Tel: 01634 338138
For further information
New business entrepreneurs who attend the programme of free start-up business workshops can proceed to apply for a £1,000 grant to help with the costs of setting up a business. Your Business Adviser will help you prepare your application and if they feel it is strong enough, will present it to the Partners for Growth panel for approval. The applicant would also agree to their business being monitored on a regular basis and to provide business financial information to the Business Adviser during the first year of trading.
The Start Up Grant may be available to you if you:
- Have recently been made redundant
- Have been claiming Job Seekers Allowance
- Individuals returning to the work market e.g. Women Returnees
- Students & Graduates who have completed their studies
There is a set of criteria that must be met in order to qualify for the start-up grant. You can discuss the current criteria requirements with your Business Adviser or the Scheme Coordinator whose contact details are at the bottom of this page.