Financial Assistance
Support with finding funding
Changes in technology, legislation and markets can mean that companies need investment to adapt to new circumstances. Whilst Prospect Leicestershire does not give direct financial assistance, it can help you determine which sources of finance are appropriate to your situation and direct you to the relevant funding body.
Financial Assistance Available
- Grants for Business Investment (formerly SFIE) - Discretionary grants of up to £140k for land and buildings, plant and machinery or other assets.
- Enterprise Finance Guarantee Scheme - Available to businesses with less than £25 million turnover. Must be unable to currently access the finance they need. Loans of £1k to £1 million. Administered by participating banks. Will consider loans for working capital or debt consolidation.
- Transition Loan Fund - Short term and immediate financial solution for businesses unable to access normal bank or other finance for working capital or investment.
- Capital for Enterprise Scheme - Aimed at viable small businesses with high debt. Equity investment that can be used to repay debt and free up working capital for investment or enhanced cash flow. Administered by external fund managers.
Cost Reduction Assistance
- Manufacturing Advisory Service - Cost reduction through increased manufacturing efficiency. Delivered by PERA.
- Carbon Trust and Envirowise - Enhanced capital allowances to reduce tax burden of firms investing in energy efficient equipment. They can also provide a free assessment and recommendations for reducing costs through implementing more energy efficient processes.
