Access to finance
Finding and securing funds to take your business forward can feel like a daunting task. Complicated application forms and processes leave many people feeling confused and worried about getting the money they need to achieve their business plans.
Think Sandwell can help. We have helped secure finance for a huge number of businesses, with money that ranges from small grants to significant capital assistance from the European Regional Development Fund. Our aim is to help businesses in our region to thrive and grow, creating job security, training opportunities and wealth for our local economy. As everyone knows, most businesses need finance in order to succeed.
We work closely with private-sector organisations to signpost businesses to the most appropriate funding sources. Our experienced business advisers offer free advice. They will help you assess your current position to determine what type of finance is appropriate for you. They can help you apply.
You will find a comprehensive list of finance that is currently available when you visit the Black Country Growth Hub’s Funding page. The Black Country Growth Hub also has dedicated Access to Finance team with whom you can get in touch.
BCRS Business Loans
Through BCRS Business Loans, loan finance is available for between £10,000 and £150,000 for new and established businesses, with loan repayments spread over a period of up to five years. BCRS was set up to help West Midlands businesses that are unable to raise finance from traditional lenders such as banks.
Growing Priority Sectors
Growing Priority Sectors is a £2m per year fund operating between 1 April 2015 to 31 March 2019. It provides grants to Black Country businesses which have growth projects but are unable to find adequate finance elsewhere. The aim is to strengthen the capacity of businesses in our region, helping them take advantage of new market opportunities. You can find out more and express your interest at the Black Country Growth Hub website.
Innovation Vouchers are available to eligible local businesses through a consortium comprising Aston University, Birmingham City University and the University of Wolverhampton. Part funded by the ERDF, the scheme allows local SMEs to access vouchers (worth £2,500) for external expertise to support an innovation project, and to attend workshops to help them become more competitive and manage growth effectively.
Funding Circle is a peer-to-peer lending facility where small to medium-sized businesses can access loan finance by borrowing directly from a community of investors. Loans are available from £5,000 up to £1m, repayable over up to five years.
ThinCats is an online marketplace for secured business loans from individual and corporate investors, with loans ranging from £100,000 up to £3m, repayable over a period of six months to five years or more.
More information from Think Sandwell
For further funding support and information contact us today.
Page last reviewed in October 2018.