Funding

Funding


Whether you are an existing business looking for funds for growth or a new enterprise in need of additional financial support, there are a number of grants and funds available to businesses in Angus.

We can advise you on a range of funding for different needs, as our knowledgeable staff are able to support you with your queries. We work closely with other support agencies and funding partners and this integrated approach to financial support means that we will advise on funding from a variety of sources, to suit your business needs.

Although every attempt is made to keep the information as up to date and accurate as possible, funders frequently change their criteria and deadlines, so please check with the funder concerned before sending in an application.

If you are looking for grants to help grow your business, here is information on grant funders that may be able to assist.

Regional Selective Assistance (RSA)

The Scheme – Operated via Scottish Enterprise, the Regional Selective Assistance (RSA) is a discretionary grant available for businesses who want to develop a project in Scotland.  Support is available if business development results in the creation or safeguarding of jobs.

The amount offered depends upon the size of the business, the location of the project and an assessment of how much is needed for the project to go ahead

Make it to Market Grant

The Scheme – The grant has been created to support Scottish-based SMEs to deliver projects that will generate sales and revenue from international trade.

Amount – This grant contributes up to 70% of eligible costs from a minimum £2,000 up to a maximum of £5,000 excluding VAT.

SMART

The Scheme – The SMART: SCOTLAND Feasibility study grant currently provides funding for eligible costs for a feasibility study.

Amount – up to £100k of grant can be awarded and they offer levels of support as follows:

  • Up to 70% towards eligible costs for a small company
  • Up to 60% towards eligible costs for a medium sized company

There are a wide range of loans available to help with start-up costs, growth and development. Here is information on current loan providers.

Michelin Development Fund

The Scheme – The fund is available to SMEs, Manufacturing or service sector (B2B), existing or start-up businesses, companies located or relocating to Angus/Dundee areas. The fund could gear up other forms of funding. In house expertise is also available.

Amount – Low-interest loans ranging from £5,000 to £50,000 over 3-5 years

Funding circle

The Scheme – In early 2014, the Government-backed British Business Bank Investment Programme decided to invest a further £40 million alongside other investors, to support economic growth by providing more efficient finance to small businesses.

Amount – Borrow £5,000 – £1m for almost any purpose

The Enterprise Finance Guarantee scheme

The Scheme – Now being run by British Business Bank, the Enterprise Finance Guarantee (EFG) is a guarantee scheme to facilitate lending to viable businesses that have been turned down for a loan or other form of debt finance due to inadequate security or a proven track record. There are over 40 participating lenders ranging from the main high street banks to smaller specialist institutions. Further details can be found on the website.

Amount – Loans range in size from £1,000 to £1.2m

Princes Trust Youth Business Scotland

The Scheme – Support for starting a business and working with 18 to 30 year olds, the Princes Trust can help to turn big ideas into a business reality through our Enterprise programme. Small start-up business grants in special circumstances.

Amount – Low-interest loans of up to £7,500

CEIS Business Finance

The scheme – CEIS offer a range of business finance solutions to small businesses and social enterprises that can’t access funding from banks and other traditional sources through DSL Business Finance, a subsidiary of CEIS, which was established in 1993. Find out more about Start-up loans of up to £25,000 or loans of up to £50,000 for existing businesses.

Amount – Loans up to £50,000.

Business Loans Scotland

The Scheme –Business Loans Scotland(BLS) is the Fund Manager for a £7million loan fund, which seeks to invest in new and growing Scottish SME’s.  BLS is also the trading name for the Scottish Growth Scheme Business Loans Scotland Debt Finance LP (SL033447) and is fully financed by the Scottish Growth Scheme and the European Regional Development Fund (ERDF) through the European Structural Funds 2014 – 2020 Programme. Business Loans Scotland is a consortium of Scotland’s Local Authorities, set up to manage loan funds providing funding to new and growing small & medium sized businesses across Scotland. BLS builds on the success of previous loan funds; the West of Scotland Loan Fund (WSLF), the East of Scotland Investment Fund (ESIF) and the South of Scotland Loan Scheme.

 Amount – Loans £25,000 up to £100,000

Crowdfund Angus is a new and innovative way to fund your new business idea. By asking the “crowd” to invest in your idea through an online campaign, you can secure the funding you need to deliver your concept. Our team are there to help advise you on creating and running your campaign, to ensure that you have the best chance of success.

However this process is not just about securing the funding for your project. Previous campaigns have shown that crowdfunding is a powerful tool in helping businesses test their ideas with their customers and even amend them based on feedback.

Crowdfund Angus can also help businesses access additional funding options directly, including Leader, Community Grants and the European Fisheries Fund. Having tested their idea and built a following by going through the crowdfunding process, companies will also find themselves in a stronger position to attract additional funding.

Visit the Crowdfund Angus website for more information and advice on how to get started on your crowdfunding project.

If you are looking to help reduce your environmental impact, become more energy efficient and save money, then these funds may be able to help you do so.

Circular Economy Investment Fund and Business Support Service

The scheme: Circular Tayside is a project delivered by Dundee and Angus Chamber of Commerce, Perthshire Chamber of Commerce and Zero Waste Scotland.

The fund is relevant to micro-enterprises, SMEs, social enterprises and third sector organisations that want to introduce an innovative circular economy product or innovative circular economy business model. Larger organisations can also apply if the lead partner in their project is an SME.

Amount: Fund is between £50,000 – £1m. Up to 30-day free business support is also available to help organisations develop their circular economy idea.

SME Loan Fund

The scheme: The SME Loan provides unsecured, interest free loans for the installation of energy efficient measures such as lighting and heating upgrades, double glazing, insulation and much more.

Amount: Loans from £1,000 up to £100,000. 15% cashback is also available for a limited period.

Local Energy Scotland

The Scheme – Local Energy Scotland can assist with funding for businesses and communities, whether more efficient heating systems or even a wind turbine for a community.

Amount – not specified

Contact – James Buchan by email james@ne.localenergyscotland.org or on 07807 167065

Energy Saving Trust – Low Carbon Transport Loan

The Scheme – Various loans are available to Scottish businesses

Amount

  • If you’re an SME looking to reduce your carbon emissions, save money and increase your competitiveness, fixed rate loans of £1000 to £100,000 are available
  • Looking to make your district heating project more affordable? Find out more about a low interest loan of up to £400,000.
  • Want to reduce the carbon impact and fuel costs of your organisation’s transport arrangements? Interest free loans of up to £100,000 are available to help

Getting funding for a new social or not for profit enterprise can be difficult but here are some funders who can help.

Firstport

The Schemes – The Scottish Government’s Social Entrepreneurs Fund has invested almost £1.9 million in individuals across Scotland to start up new social enterprises. SEF looks for enterprising individuals that have a focus on the business side of their idea and are looking to create a long-term solution to a social issue. Millenium Awards Trust logo Scotland Unltd’s Millennium Awards Trust is part of UnLtd’s UK wide programme and makes awards to social entrepreneurs who want to change the world for the better. UnLtd is the leading provider of support to social entrepreneurs in the UK  and offers the largest such network in the world.

NESTA

The Scheme – They invest in social ventures with innovative products or services that are addressing some of the UK ’s most pressing challenges for example ageing population, educational attainment and environmentally sustainable communities.

Amount – no set limit

Lloyds Bank and Bank of Scotland Social Entrepreneurs Programme

The Scheme – Are you planning to grow an organisation that helps people in need? Are you running or starting up a project to create social or environmental impact? We could support you through the Lloyds Bank and Bank of Scotland Social Entrepreneurs Programme, run in partnership with School for Social Entrepreneurs, with the support of Big Lottery Fund.

Amount – grant of up to £10,000

If you are looking for help in starting a new business project or support for an existing one, here are a range of funders who may be able to assist.

Connect Local – Regional Food Fund

The scheme – The Connect Local Regional Food Fund (RFF) is a grant to support growth in Scotland’s local / regional food and drink sector. This fund will support initiatives and projects in Scotland which celebrate and promote locally sourced and produced food and drink, in line with the priorities of Ambition 2030.

Amount –  This is a competitive fund and applicants can apply for grants up to a maximum of £5000.

Scottish Co-Investment Fund

The Scheme – The Scottish Co-Investment Fund is managed by Scottish Enterprise in partnership with their accredited investment partners to address funding gaps. Start up companies those with growth aspirations or businesses who are expanding into new markets or developing new products.  The Scottish Investment Bank invests on equal terms with the investment partner. Businesses must be an SME trading company, with less than 250 employees and with a turnover of no more than €50m.

Amount – Investment from £10,000 (on deals of £20,000 or more) up to £1.5million

The Scottish Venture Fund

The Scheme – The Scottish Venture Fund invests in companies from start ups, early-stage to expanding businesses seeking funding to develop products and/or markets.

Amount – This fund can invest alongside private sector investors on equal terms, up to a maximum of 50% of the total funding package on a commercial basis. We can provide from £10,000 up to £2 million, as part of a total deal size ranging from £20,000 to £10 million.

Interface – Start up or Growth

The Scheme – Interface help you find the right University to take forward a project whether it is a design you would like made into a prototype and tested or a feasibility study to see if there is a market.

Amount – It is a fully funded service and if the project is innovative the University can apply for up to £5000 to pay for the project, this is match funded in the businesses time spent on the project.  A second project with a University can potentially be funded at up to £20,000 but the follow on voucher must be matched with cash.

Contact – Lorna Watson tel 07780334881 or email Lorna.watson@interface-online.org.uk

Scottish EDGE

The Scheme – Scottish EDGE is a competition aimed at identifying and supporting Scotland’s up-and-coming, innovative, high-growth potential entrepreneurial talent. Prize funding of up to £150,000 is available through four separate categories – Scottish Edge, Higgs Edge, Wild Card Edge and Young Edge.

X
X