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Funding is provided to either effect some change in the economy such as create more jobs, innovation, green working, etc. or to address a market failure such as a lack of social enterprises. For this reason, criteria and eligibility is often very specific and funding may often take the form of paid for advice, zero interest loans or small grants that require a match contribution from the business. If you’re unsure whether you qualify for any of the schemes below please get in touch and we’ll do our best to help.

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The business finance guide provides a comprehensive overview of the financing options available to growing businesses. Whatever the challenges faced, the right financing decisions are critical. For business owners and management, awareness of the choices available allows the business to make a well-informed financing decision.

This link takes you to a helpful tool that guides you through the various options for finance: Find the right finance for you

Search finance and support for your business, click here to go to the Government National Finance Finder Tool.

Local Grants & Funding

Business Sustainability Challenge - Round 2

Growing Kent & Medway is offering a share of £600,000 to businesses with innovative ideas to sustainably improve operations within the fresh produce, food and drink supply chain.

The Business Sustainability Challenge will award funding of up to £50,000 for innovative ideas, processes, or technologies that support sustainable production, products and packaging solutions. The funders are particularly interested in projects that create circular economies in the horticulture and plant-based food and drink supply chain.

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Tonbridge & Malling Green Business Grant

Supporting Tonbridge and Malling borough and Sevenoaks district businesses to become greener. This is a capital expenditure grant scheme divided into two sections:

  • green businesses can apply for a grant of up to £8,000 to fund up to 40 per cent of business development initiatives to help them to grow and develop new ideas.  See section A grants
  • other businesses can apply for grants of up to £5,000 to cover up to 40 per cent of the costs to reduce the carbon footprint of premises.  See section B grants

Before applying for a grant, you must read this policy – Green business grant scheme policy

Applications close at 11:59pm on 27th March 2024

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Medway Partners for Green Growth grant scheme

Financial support of up to £2,500 is available for Medway SMEs.

The funding is to help businesses in the:

  • implementation of their decarbonisation plans
  • adoption of new processes that contribute to their net-zero journey.

The grant aims to offset some of the costs associated with sustainable initiatives and allow businesses to make meaningful progress towards their environmental goals.

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Ashford Town Centre Business Grants

Provides support to landlords or tenants to make improvements to their business premises and attract investment into Ashford Town Centre.

  • Shop Improvement Grants – 60% of costs up to £3,000 to help existing businesses with external renovations, energy efficiency measures or accessibility measures.
  • Empty Premises Grants – 60% of costs up to £10,000 to help prospective tenants or landlords make improvements to vacant properties in order to fill the units.

Applications close at 11:59pm on 30 April 2024

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Dover Rural Grant Scheme

*This scheme is currently on hold and will re-open in March 2024*

A new grant scheme for rural businesses and communities in Dover to:

  • Develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams.
  • Support new and improved community infrastructure, providing essential community services and assets for local people and businesses to benefit the local economy.
  • capital projects e.g. a lasting asset such as a building or equipment and must have a value of over £10,000.
  • unable to be funded by private finance.

Projects should be deliverable between January 2024 and June 2024.

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Kent and Medway Business Fund - Small Business Boost

Loan Offer – £26k – £99k
0% Interest (10% Admin Fee applied)
20-30% Match-funding required

Applications are invited from start ups and established businesses in all sectors

Excluding:
Franchises
Organisations with a political or religious nature
Primary production (partial exclusion)

Criteria must include:
Growth, Innovation, Increased Productivity, Supply Chain, Contribution to Net Zero

Employment:
Job Creation – essential

Read the SBB Guidance here

To submit your Expression Of Interest

 

 

Kent and Medway Business Fund - Standard Loan

Loan Offer – £100k – £600k
0% Interest (10% Admin Fee applied)
50% Match-funding required

Applications are invited from established businesses in all sectors

Excluding:
Franchises
Organisations with a political or religious nature
Primary production (partial exclusion)

Criteria must include:
Growth, Innovation, Increased Productivity, Supply Chain, Contribution to Net Zero

Employment:
Job Creation – essential

Read the KMBF Standard loan Guidance here

To submit your Expression Of Interest

 

West Kent Rural Grant Scheme

Rural businesses and communities based in Sevenoaks, Tunbridge Wells or Tonbridge & Malling can apply to the West Kent Rural Grants scheme (funded by the Government’s Rural England Prosperity fund) for funding to support jobs, communities and economic growth.

Grants of £2,000 to £24,999 are available for the 2024/25 financial year.

The funding is for capital projects and match funding is required. Other terms and conditions apply.

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Folkestone & Hythe Rural Funding Scheme

Grants ranging from £3,000 to £10,000 are available (and up to £30,000 in exceptional circumstances) to support rural businesses based in Folkestone & Hythe to:

  • Create jobs and boost community cohesion
  • Increase private sector investment in growth-enhancing activities
  • Green infrastructure and to support rural tourism activity
  • Creation and expansion of rural leisure and tourism businesses
  • Equipment for non-farmer-owned businesses
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Recovery Loan Scheme

The Recovery Loan Scheme (RLS) supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic for Kent businesses (Medway businesses are not currently supported by this Scheme).

RLS facilities can be used for business purposes, including:

  • managing cashflow
  • investment
  • growth.

It is designed to support businesses that can afford to take out additional finance for these purposes.

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Folkestone & Hythe Green Business Grant Scheme

Grants of up to £10,000 may be available (up to £25,000 in exceptional circumstances) to help small businesses based in Folkestone & Hythe to save carbon, become more energy efficient and, in turn, to save the business money.

Who can apply for a Grant?

Small businesses (up to 50 employees) are eligible to apply for a Green Business Grant if:

  • you are the freeholder or leaseholder (with at least 5 years left on the lease) of the commercial property
  • limited to one application per business owner
  • the property is over 10 years old
  • The project will have a positive impact environmentally
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Start Up Loan + 12 months Mentoring

Start or grow your own business

  • 18+ years old
  • Pre-start or trading less than 36 months
  • UK-based business
  • Up to £25,000 at 6% p.a. fixed for up to 5 years

To apply: Applying for a Start Up Loan – Start Up (startuploans.co.uk)

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Got questions? Ask Phil

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