Applications open for Kent & Medway Business Fund

Another £5 million in loans to support businesses in the county have been announced boosting economic growth and job creation.

The success of Kent County Council’s Regional Growth Fund has already supported 242 companies in the county with £55 million of loans that have created more than 2,212 jobs, safeguarded a further 1,663 and has been matched by £87.3 million of private sector investment.

Now the Kent and Medway Business Fund is offering a further £5 million of 0% loans between £50,000 and £500,000 to small and medium businesses, to increase their growth, productivity and job creation.

This additional round of funding comes through the start of repayment loans lent through earlier RGF schemes, including Expansion East Kent, TIGER and Escalate.

Kent and Medway Business Fund loans can be used to develop new or expand existing products, services, or processes in businesses that would otherwise struggle to find funding from banks.

This latest scheme is designed to encourage enterprise, growth and jobs in the private sector and support areas and communities across Kent and Medway.

Businesses applying for funding must show that these will lead to new jobs, deliver business growth and improve productivity.

Businesses can submit pre-applications until January 19.

For full details and to apply, visit the Kent and Medway Business Fund page on the KCC website.