Creative England Interest Free Business Loans (Partly Free)

What is the loan available for?

Creative England are supporting established digital creative companies to finance business growth through the provision of interest-free loans (arrangement fee charged).

Creative England Business Loans will help fuel the growth of the fastest growing sector in the UK economy, financing business expansion and new products which will lead to the creation of new, high-quality jobs.

Capital or Revenue or both?

Both.

Percentage of Project Cost

The loan must be matched 50:50 with other finance, sourced by the company.

Eligibility Criteria

  • Digital and Creative businesses must be based in the England regions outside Greater London.
  • Jobs must be created and safeguarded as a result of the loan funding (we ask that for every £7,000, 1 job must be created and/or safeguarded. (A loan of £70,000 would create and/or safeguard 10 jobs)
  • Businesses must have a turnover of at least £200,000. If turnover is less, please speak to a team member before applying.

The loans are offered to established companies to enable them to realise their growth potential. Examples of is meant by ‘digital’; digital media and web (e.g. creative software development, digital media, web design, digital content), games (e.g. gaming and app development), e-commerce and software solutions.

Delivery targets and required outcomes

The primary objective of the RGF is the creation and safeguarding of jobs and evidence of your capacity to grow as a company will be crucial to the success of your application.

Loan amounts available

Secured loans of between £50,000 and £200,000

Terms of the loan

The loan is interest free (an arrangement fee of 5% applies) and will be repaid over 3 years, full details available on the website.

Who provides the loan?

The Loan Fund is financed by the government’s Regional Growth Fund which supports eligible projects and programmes that are raising private sector investment to create economic growth and lasting employment in the English regions. This Loan Fund is managed and delivered by Creative England.

How to apply

Please see http://www.creativeengland.co.uk/tech-and-digital/investments for further information, apply via the website.

Contact Information:

Telephone numbers:
0844 824 6042

Email:
info@creativeengland.co.uk

Twitter:
@creativeengland