Financial Support

THE SOUTH CHESHIRE CHAMBER BUSINESS FUND

The South Cheshire Chamber Business Fund is operated by the South Cheshire Chamber of Commerce & Industry (SCCCI) and comprises two separate funding strands, designed to assist with both long and short-term business finance.

The following loans are currently available through this scheme:

• Working Capital Loan

The Working Capital Loan provides short-term support up to a maximum of £10,000 to companies with temporary working capital problems. These loans are normally unsecured and repayable over a maximum of two years, at a fixed rate of 12% interest. Interest on the loan is accrued and paid at the end of the period.
 

• Capital Loan

This provides for longer-term projects. These loans are repayable over a maximum of five years at a fixed rate of interest of 12%. Security may be required. Loans of varying amounts are provided, however, the maximum loan is £25,000. The exact amount payable will be determined according to demonstrated needs, as deemed eligible by SCCCI in the initial stages.

• Administration Fees

A fee of 1% (plus VAT) is payable together with a 1% monitoring fee (plus VAT).

Note: SCCCI cannot be the main funder of a business project and for both of the funds described above, only 50% of the eligible expenditure can be provided.

The loans are designed to aid business projects which are likely to create jobs and assist with the regeneration of the local economy in the former Crewe and Nantwich Borough, now part of Cheshire East Council.

All types and sizes of organisations are eligible to apply, ranging from business start-ups to large company expansion and relocation projects.

The scheme operates on a recurrent basis, inviting applications throughout the year.

For further information contact Les Briers on 01270 504 700 Extn. 22