Finance, Funding and Grants in Central Bedfordshire

SEMLEP Growth hub are offering support to enterprises based in the SEMLEP area who are looking to invest in their business leading to growth: to strengthen their business performance and resilience to respond to cost-of-living challenges; increase innovation levels and enhance sustainability, in support for transition towards a net zero economy.

The total Resilience and Innovation grant fund allocation is £ 1.9 million. The maximum grant intervention through the programme will be up to 50% of eligible capital from £5,000 up to a maximum of £50,000.

Eligibility: Businesses that have been trading for more than 2 years in the SEMLEP area.

Closing date: Grants will be allocated on a rolling basis, with application windows every two months until the funding is fully allocated.

Website: https://www.semlepgrowthhub.com/resilienceinnovationfund/

Tel:  0300 01234 35

A programme offering businesses in Central Bedfordshire support to overcome their barriers and look at selling to overseas customers.  Businesses may be preparing to export for the first time or be considering new markets.  Participants may also be able to access an export grant to grow their overseas trading and develop an export strategy.  To register interest, complete the online form.

Eligibility: Available to trading businesses. 

Website: https://www.chamber-business.com/goglobalukspf

Expression of Interest Form: https://formbuilder.evolutive.co.uk/formsite/form/6eaf5235-478e-474a-b5ec-42e5f79b9dcb

A programme offering support with two different focus areas, for businesses in Central Bedfordshire:
Business Scale-up and Resilience - for ambitious business owners/managers wanting to reach the next stage of growth, this offers support with strategic planning, developing leadership and management skills, long-term resilience and financial performance.  Participants will attend a range of training courses, workshops and masterclasses both at the Cranfield Campus and online, as well as working 1-2-1 with a business counsellor.
Local Business Decarbonisation - a growth programme helping businesses understand their carbon footprint, bring net-zero targets into the business growth plan, look at climate action planning and sustainability, and using this to gain a competitive advantage in the marketplace.

Participants of the Central Bedfordshire Scholarship Programme can also apply for a grant under the Central Bedfordshire Grant Programme once they have completed 12 hours of an applicable course.
To register your interest in either strand of the programme, complete the relevant online expression of interest form.  The programme is funded via the Government’s UK Shared Prosperity Fund and Rural England Prosperity Fund.

Eligibility: Available to businesses trading for a minimum of a year, with a turnover above £80,000 and at least 1 employee.  Some elements have additional eligibility criteria and higher requirements for turnover and staff.

Website: https://www.cranfield.ac.uk/som/research-centres/bettany-centre-for-entrepreneurship/central-bedfordshire-scholarship-programme

Expression of Interest form: https://formbuilder.evolutive.co.uk/formsite/form/6eaf5235-478e-474a-b5ec-42e5f79b9dcb

Loans range from £500 up to £150,000, as part of accessing a loan business support and aftercare is provided. Loans are only available to those who may otherwise struggle to raise funding through a traditional bank loan. 

Eligibility: Businesses must be trading for 18 months and able to contribute a minimum of 30% of the value of the loan. The business must demonstrate either job creation or safeguarding.

Website: http://www.first-enterprise.co.uk/business-loans/

Tel: 0345 602 7355

E-mail: [email protected]

The Midlands Engine Investment Fund II offers commercially focussed finance through Small Business Loans, Debt Finance, Proof of Concept and Equity Finance funds. 

For more information on the types of loans available, go to the following links:

Small Business Loans - from £25,000 - £100,000
Smaller Loans - British Business Bank (british-business-bank.co.uk)

Debt Finance - Business loans from £100,000 - £2 million
Debt Finance - British Business Bank (british-business-bank.co.uk)

Equity Finance - Later stage equity finance up to £5 million
Equity Finance - British Business Bank (british-business-bank.co.uk)

Eligibility: Available for businesses that have begun trading.

Main website: https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/midlands-engine-investment-fund-ii-meif-ii/

Are you looking to explore your loan & equity options?

FSE offers a range of loans and equity finance for innovative growth companies. You need to be able to demonstrate the potential for significant growth and investment-ready to apply. You can find more information on the funds available via the website.

Eligibility: Available to businesses that have begun trading.

Website: http://thefsegroup.com/

Tel: 01276 608 510

E-mail: [email protected]

If you are an established, incorporated company looking for a loan, the East of England Regional Growth Loan Scheme offers anything from £50,000 to £500,000.

Eligibility: Available for businesses trading over 24 months with a minimum turnover of 100k and growth potential.

Website: http://www.thefsegroup.com/fund/east-of-england-regional-growth-loan-scheme/

Tel: 01473 722 910

E-mail: [email protected]

A UK-wide, government-backed initiative financed through British Business Bank, providing loans for people starting a new business or have been trading for less than 3 years. Loans range from £500 to £25,000 with a fixed interest rate of 6% over 1-5 years. The scheme also offers 12 months of mentoring for successful loan applicants.

- The scheme is open to those over the age of 18 at the time of application

- Applicants must live in the UK. They must also have the right to remain in the UK for the duration of the loan term and the right to be self-employed.

- Applicants should be unable to access alternative finance for starting a business elsewhere.

- As part of the application process, a credit check will take place. Applicants with recent defaults or poor credit histories should check with a credit reference agency to ensure their records are up to date before applying.

Eligibility: https://www.startuploans.co.uk/faqs-2/eligibility/

Website: https://www.startuploans.co.uk/

Tel:0344 264 2600

E-mail: [email protected]

Start Up Loans also offers the below products through the listed dedicated providers.

Sharia compliant finance
The Start Up Loans Company provides a Sharia compliant investment product. This is provided through the Financing Startup Enterprise Group.
https://www.startuploans.co.uk/sharia-compliant-finance/
Tel: 0330 056 2528 

Creative Businesses
The Start Up Loans company provides loans specifically for the creative sector. This is provided through Creative England.
https://www.wearecreative.uk/investment/
Apply via the website.

Ex-service personnel
For military spouses & partners, reservists, cadets and children of forces personnel with entrepreneurial ambition.
Website: https://www.x-forces.com/
Tel:0800 368 9533
E-mail: [email protected]

Is your business over 12 months old and looking to grow? The Government's new Help to Grow programme could help.

The scheme offers decision-makers and senior managers access to a 12 week programme, designed to be manageable alongside full-time work. It combines a practical curriculum with 1:1 mentoring, peer-learning and alumni networking. Participants are enabled to develop their skills in areas such as financial management, innovation and digital adoption, working towards a tailored business growth plan to lead their business to its full potential.

Delivered by leading business schools across the UK, the programme is 90% subsidised by the government, with participants contributing £750. Some business schools delivering the Help to Grow Management programme are providing bursaries of £750 - more information is available directly from the business schools.

Eligibility: Available for limited companies who have been trading over 12 months with between 5-249 employees. If your business employs between 10 and 249 people, you can send up to two participants on the course. For more information, please read the FAQs.

Website: https://smallbusinesscharter.org/help-to-grow-management/


As well as this scheme, you can find more information and support resources for starting and growing a business on the Government's Help to Grow campaign website: https://helptogrow.campaign.gov.uk/

Seed Enterprise Investment Scheme is an equity scheme aimed at small riskier, early stage UK companies willing to hand over equity in their business in exchange for capital funding. It is designed to boost economic growth in the UK by promoting new enterprise and entrepreneurship. You can raise a maximum of £250,000 through SEIS.

The following criteria must be met by the company in order to be eligible and remain SEIS compliant:

- Must be established in the UK
- Must be fully independent (has not been controlled by another company since their date of incorporation)
- Must not be a member of a partnership
- Does not control another company unless that company is a qualifying subsidiary
- Must be unquoted before beginning SEIS (not listed on any major stock exchange)
- Has no arrangements to become a quoted company or a subsidiary of one at the time of the share issue
- Must be operating in a qualifying trade
- Must have fewer than 25 full-time equivalent employees when the shares are issued
- Must not have gross assets over £350,000 when the shares are issued

Website: https://www.gov.uk/guidance/venture-capital-schemes-apply-to-use-the-seed-enterprise-investment-scheme 

E-mail: [email protected]

Advanced Learner Loan helps with the costs of a college or training course. The course must have started on or after 1 August 2016 and be an eligible Level 3, 4, 5, or 6 courses, e.g. A-Levels or graduate certificate. Information about how to apply can be found here. The loan, which must be paid back, doesn't depend on income and there are no credit checks.

If you’re studying a Level 3 qualification, you might be eligible for an ‘Adult Education Budget’ grant instead of an Advanced Learner Loan. If you get a grant, you do not need to repay it. Ask your college or training provider about grants before you apply for a loan.

There is also a bursary fund; you may be eligible for support from the Advanced Learner Loan Bursary Fund for help with learning or living costs, e.g. childcare, accommodation expenses, course materials, a support assistant for learners with a disability or learning difficulty.

Applications for the bursary are made directly to the college or training provider and can be applied for as soon as you have received your confirmation letter of the Advanced Learner Loan. In some cases, money from the fund may have to be paid back.

In regards to making repayments if you are an employee, your employer will work out the repayments due and deduct them from your salary (with prior agreement). If you are self-employed you can make repayments as part of your self-assessment tax return. Additional repayments can be made at any time without an extra charge.

To support employees who wish to undertake professional development, employers can elect to make voluntary payments for part or the whole of the loan amount, on behalf of their employees. Employers can also make individual agreements with their employees about loan repayments. In either case, employers are urged to take their own independent advice on how the tax rules apply to them and their employees and any consequences of potential payments that they may make for their employees.

There are no upfront fees for this facility and you will only have to start repaying the loan the April after your course ends - details of Plans and income thresholds can be found here (though you can choose to start paying before this without any penalties). Speak to your preferred college for information on whether the course that you will be studying is eligible and which Plan you will be on when you start repayments.

Website: https://www.gov.uk/advanced-learner-loan

BGF invests in a range of companies, from earlier stage SMEs of £1m revenues, to those with £100m+ revenues, and across all sectors. Investments provided range  are a mix of equity and loan notes for growth and/or cash out to existing shareholders. Initial investments are between £1m and £20m.

The BGF works with companies that have realistic expansion plans, offering a collaborative approach to financing growth, working closely with the companies in which they invest.

Website: https://www.bgf.co.uk/

Regional telephone numbers and online contact form: https://www.bgf.co.uk/contact/

UK Export Finance (UKEF) is the UK’s export credit agency. It is like a government bank or insurer specifically for exports. Its ambition is to make sure no viable export from the UK should fail for want of finance or insurance from the private sector.

UKEF helps firms of all sizes access the finance and insurance needed to realise their export ambitions through:

• free and independent guidance on sources of export finance

• the release of working capital with bank guarantees for contract bonds or credit facilities

• security of payment with export credit insurance

• competitive finance for overseas buyers with buyer credit guarantees or direct loans

The amounts and terms of support available depend on the risk involved. UKEF works with exporters, project sponsors, banks and buyers.

Website: https://www.gov.uk/government/organisations/uk-export-finance

Find an Export Finance Manager website: https://www.gov.uk/government/publications/find-an-export-finance-manager

Overseas Investment Insurance guide: https://www.gov.uk/guidance/overseas-investment-insurance

E-mail: [email protected] 

General Tel: +44 (0)20 7271 8010

Innovate UK is the UK’s innovation agency and works with companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy.

They do this by offering loans, grants, competitions, and access to academic resources and support via Knowledge Transfer Partnerships, Innovate UK Business Connect, and Catapult Centres.

They have also produced the good application guide to help you prepare your best funding application.

Website: https://www.ukri.org/councils/innovate-uk/

Funding website: https://apply-for-innovation-funding.service.gov.uk/competition/search

Tel: 0300 321 4357

E-mail: [email protected]

The data analytics innovation vouchers are provided by the Business and Local Government Data Research Centre. This grant-funded scheme enables organisations to work with international data analytics researchers in order to address the key challenges faced.

In addition to grant-funded research projects, the Centre also provides funded data analytics training, workshops, networking events and webinars. To keep up to date on the latest opportunities please follow the Centre on their social media channels.

Eligibility: Micro, small or medium-sized businesses, local authorities and the wider public sector, charities or not-for-profit organisations.

Website: https://www.essex.ac.uk/centres-and-institutes/business-and-local-government-data/data-analytics-innovation-vouchers

Find out more via the website or contact the Outreach and Publicity Officer directly via email: [email protected] to arrange a consultation.

The Momentum Music Fund offers grants of £5k-£15k for artists/bands to break through to the next level of their careers. Activities eligible for support include recording, touring and marketing. The fund is open to applications from artists and bands in the UK that are at a crucial point in their development, with the potential to significantly further their career within the next two years. Applications can be submitted by the artists themselves or those who are working on their behalf, e.g. a manager, an independent label or publisher.

Funding can be used for:

- Recording – new album, EP, single, producer, engineer, mixer fees, studio hire, session musician fees, etc.

- Touring (UK only) – travel, accommodation, musician fees, set/production design, tour management, equipment hire, etc.

- Marketing and promotions – online PR, radio plugger, digital marketing, music videos, merchandise production, etc.

Closing date: There are 4 application rounds per year, closing at 6pm on the dates listed here 

Website: https://prsfoundation.com/funding-support/funding-music-creators/next-steps/ppl-momentum-music-fund/

E-mail: [email protected]

Are you looking to access finance for your business? You may want to consider Crowdfunding.

Crowdfunding is a method of getting finance by sourcing small amounts from a large number of people, rather than getting large amounts from one or a few. Its platforms host fundraisers’ pitches and allows the transfer of money directly from the funders to the fundraiser. 

Some level of vetting is usually made before allowing pitches on the platforms, and fees are charged to either the fundraiser, funder, or to both.

Not all crowdfunders are regulated by the FCA. Some are regulated by their association codes of conduct. There is an element of risk involved in dealing with any organisation that is not regulated by the FCA to offer finance products. To find out more go to https://www.fca.org.uk/consumers/crowdfunding

There are several types of crowdfunding platforms that you can consider, which usually depend on the stage and the sector of your business. Take a look at the British Business Bank information on equity crowdfunding: https://www.british-business-bank.co.uk/finance-hub/equity-crowdfunding/, and peer-to-peer lending: https://www.british-business-bank.co.uk/finance-hub/peer-to-peer-lending/ for the pros and cons of using these platforms.