Berkshire: The FSE Group loan scheme open for applications
The Thames Valley Berkshire Growth Loan Scheme, which forms part of the Thames Valley Berkshire Funding Escalator, is now open to applications from eligible local businesses.
The loan scheme is able to invest up to £150,000, as debt with some equity rights, into Berkshire-based small and medium-sized enterprises (SMEs) that can demonstrate potential for high growth. The loan must be matched by at least an equal amount of private investment, which The FSE Group can work with the SME to source.
Funded by Thames Valley Berkshire Local Enterprise Partnership (LEP) in response to the difficulties business face in obtaining funding, this fund is part of the £7.3 million funding escalator helping to achieve growth locally by developing the next generation of businesses that can contribute to job creation and prosperity in region.
In addition to receiving financial support, companies that are successful in obtaining a growth loan will also participate in a programme of training and coaching to enhance the skills they may need to grow their business. The programme, which is run by VitalSix and delivered in conjunction with Henley Business School and a team of entrepreneurs and finance professionals, will include skills development of the leadership teams along with business growth coaching.
Kevan Jones, CEO at FSE CIC which is managing the funding escalator, said: “This area is home to a wealth of talented businesses that we are already supporting through other parts of the funding escalator, and we are delighted to now be extending the funds available with the Thames Valley Berkshire Growth Loan Scheme. We would encourage ambitious Berkshire-based businesses with the potential for high growth to apply for this loan scheme via our website.”
The Thames Valley Berkshire Funding Escalator is divided into three complementary but distinct loan schemes: business expansion, commercialisation and growth. Depending on the stage and need of the business, the relevant scheme can provide loans of £25,000 to £200,000 to fund the next development phase.
