Innovation Investment Loan Fund Now Open
25 Aug 2017
The Innovation Investment Loan scheme (i3) is funded by the South East Local Enterprise Partnership, Local Growth Fund and aims to deliver £1.8m of loans to local businesses in 2017/18.
The scheme offers 0% loans between £100,000 and £500,000 towards the development of innovation incubator spaces and other workspaces aimed at start-up and small businesses within the Kent and Medway areas.
The Scheme is open from 25th August for new pre-applications and closes 11th September 2017.
Must meet all the following criteria:
- be a sole trader, partnership, limited company or a not for profit business
- be seeking a loan between £100,000 and £500,000
- currently have less than 250 employees
- be providing employment – either creating (directly or indirectly) or safeguarding jobs in the designated areas.
Must be located in one of the following areas:
Ashford, Canterbury, Dartford, Dover, Gravesham, Maidstone, Medway, Sevenoaks, Shepway, Swale, Thanet, Tonbridge & Malling and Tunbridge Wells.
Priority Sectors for Loan
Priority sectors for loan - Manufacturing, Low Carbon Technology, Pharmaceuticals & Life Sciences, ICT Software Development and Information Management, Media, Creative and Cultural Industries; Marine Ports and Logistics and Technological Development.
*Ineligible Sectors - Fisheries and aquaculture, Primary production of agricultural products, Processing and marketing of agricultural products, Coal, Steel production, Shipbuilding, Synthetic fibres, Schools, colleges and other educational provision, Franchises, Hospital, medical services and publicly and privately owned nursing homes, or care related hostel or residential activities, Defence sector activities, Professional services such as accountants, legal, financial and insurance, Tourism and leisure activities (except in the designated Assisted Areas), Road haulage, distribution and warehousing, Energy generation.
For full details and to apply, click here.