ERDF Project
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This Loan funding factsheet has been developed by the Black Country Local Enterprise Partnership (LEP) Access to Finance Group in response to a number of requests from companies and intermediaries. This document provides an overview of available funding streams and includes links for further information for each of the funding streams currently available, or due to be launched soon. This complements the Business Finance Finder web page which includes more mainstream finance available through banks and larger lenders. This factsheet is updated as new funding streams are announced/confirmed. If you would like more information about any of the schemes highlighted in this factsheet please contact the Growth Hub using the details below.

Whilst contact information about individual products is given below, all initial enquiries can be directed to the Black Country Growth Hub on 01902 321 272 or email

Do you represent a new business? Find support at the Business Support Helpline, learn more.


Funding programme Available
RGF Mezzanine Loan Fund - this £56m fund is currently open to SME businesses within the West Midlands which have been operating for two years of more, and are looking to create and/or safeguard jobs. Details include:
  • Open to all sectors and can be used for any purpose
  • Commercial rate of interest and repayment premium
  • Equity or warrants considered but not required
  • Offers flexible repayment structure and terms
  • No personal security required
  • Debenture security but priority given to existing debenture holders
For more information, contact Graham Mold on 0121 233 4903 or learn more.Loans from £250,000 to £2 million
Black Country Investment Loan Fund - The Fund has been established to provide loan funding to landowners to fund the cost of site remediation and servicing of sites for employment uses. There is a separate but similar fund for residential development. The proposed loan arrangements provide for repayment of loans (and associated interest) upon site development or disposal with a longstop date of repayment of 10 years. Loan funding may meet 100% of the costs of remediation and servicing works with the loan secured against the remediated site value. The Black Country Investment Fund will not provide a designated aid to beneficiaries and accordingly would not impact on the eligibility of parties to seek additional public sector funding to support the delivery of built development. Applications are currently open, telephone the Black Country Growth Hub 01902 321272 or email. Learn more. Please contact for more details
Black Country Growing Places Loan Fund - Loan funding will be available from autumn 2015 based on recycled capital and interest from previous funding rounds. Growing Places Funding is only available for land and property projects in the Black Country that are stalled and subject to funding would be in a position to proceed on site within around 6 months. See the web page for details and factsheet. Please contact for more details
BCRS Business Loans – Loans from £10,000 - £150,000 available to companies who are unable to access finance from traditional sources, such as banks. Learn more or email or call 0345 313 8410. Loans from £10,000 - £150,000
Impetus Business Loans - Impetus has general capital funds for Gloucestershire, Herefordshire, Worcestershire, Shropshire, Telford & Wrekin and the wider West Midlands area. For viable activities in the region, From £1,000 to £150,000, for SMEs, start-ups & social enterprise and when bank support is limited, or additional finance is required. Learn more. From £1,000 to £150,000
Aston Reinvestment Trust – Loans from £10,000 - £150,000 available to companies who are unable to access finance from traditional sources, such as banks. Visit the website for more information. Loans from £10,000 - £150,000
EV Business Loans - provides loans ranging from £15,000 to £1 million to both new and existing businesses. Loans are available for a wide range of purposes. Learn more. Loans from £15,000 to £1 million
Little Business Loans - can offer secured loans from £500 to £5000 for 12 months. Visit the website to find out more. Loans from £500 to £5,000
Advanced Manufacturing Supply Chain Initiative (AMSCI) WMLCR – The aim of AMSCI is to increase the growth of the manufacturing sector. The fund will adopt a flexible approach to funding (loans and grants) focusing on the provision of funding towards the purchase of capital equipment and funding working capital requirements as well as funding the complementary requirement of R&D and skills development.
  • Research & Development
  • Capital Investment

Applications are now open, contact AMSCI helpdesk on 0121 233 4927 or visit the website for more details.

Please note that the funding is dependent on loan being paid back into the fund and therefore may not be available from time to time.

From £100,000
National Tooling Fund - The £24m revolving National Tooling Fund is open and has been created to help toolmakers and component manufacturers fund the design, development and manufacture of tooling or the expansion of tooling capacity. The fund will offer a commercial rate of interest and focus on the creation and safeguarding of jobs, further details include:
  • Evidence that traditional sources of finance are not available
  • The final manufacturing of the tooling and components must be located in England
  • More than 2 years trading track record and proven ability to complete similar projects
  • Firm order for the tooling from an OEM/Tier 1 or similar
Contact Steve Hetherington on 0121 233 4903 or visit the web page.
Loans range from £50,000 to £1 million
UK Export Finance Offers a range of financial products, including credit, loan guarantees and insurance via banks to assist UK businesses when exporting. Learn more. Please contact for more details.
UK Steel Enterprise Access to Finance - scheme is privately funded with support from the Regional Growth Fund. The scheme can provide loan and equity finance from UK Steel Enterprise a subsidiary of Tata Steel. The project must support capital investment projects which create or safeguard jobs. Applications open until March 2017. Visit the website for more information, or contact Allan Wood or Keith Williams on 0800 915 1188. Package of Support Range: £25,000- £750,000
Waste Reduction Action Partnership (WRAP) – loan funds to assist businesses to purchase plant and equipment for recycling of various waste materials including mixed plastics, anaerobic digestion. Learn more. Please contact for more details.
Energy Efficiency Finance – loans from The Carbon Trust and Siemens for energy efficiency measures and to install renewable energy and make repayments from the savings. Visit the web page for more details. Please contact for more details.
Arts Impact Fund – Repayable funding from £150,000 for not-for-profit arts organisations to deliver social impact. Learn more by visiting the website. Loans from £150,000
Creative Industries Finance – loans from £2000 to £2.5m for creative businesses that have been trading for longer than 18 months, together with 12 hours of business coaching. Learn more. From £2,500
Creative England Business Loan – interest free loans from £50,000 to £200,000 over three years for creative and digital businesses outside of London. Learn more. Loans from £50,000 to £200,000
Virgin Start Up – loans available for start-up businesses. Loans with 6% interest rate and typical repayment period of 1 to 5 years, aimed at those wanting to start a business or in the very early stages of trading. Learn more.
£500 to £25,000
Coventry and Warwickshire Reinvestment Trust (CWRT) – providing commercial loans to companies who are unable to access finance from traditional sources such as banks. CWRT offer commercial loans from £1,000 to £75,000 CWRT is one of the official Delivery Partners for the Start Up Loans Company and can offer start-up loans from £1,000 to £25,000. Learn more. Loans from £1,000 to £75,000
BT Lease Deals – Get your own private uncontended leased line and never have to compete for bandwidth. Learn more. Contact for more information
NatWest Business Loans
  • Sustainable Energy - Specialist sustainable energy products. Get guidance and support from a team of experts with over 20 years in the energy sector. You may want to cut energy bills, finance a renewables project or simply increase efficiency. We offer tailored loans to help your renewable energy project get off the ground. You could secure financing against alternative assets like land or buildings. The typical repayment term is 10 years. Learn more.
  • Manufacturing and Automotive - dedicated support for UK manufacturers and automotive businesses, a team of over 200 specialists across the country, each dedicated to supporting businesses in these sectors. A range of support products. Learn more.
  • R and D Tax Credit Bridge-Over Loan - as the only bank to offer you the R&D Tax Credit Bridge-Over Loan, we could help you while you wait for HMRC to process your R&D tax claim. Learn more.
Please contact for more details.
Big Issue Invest – The new Impact Loans England fund offers loans of between £20,000 and £150,000 for social enterprises looking to grow whether they are buying equipment, hiring new talent, or progressing with business development plans. Learn more. Contact for more information

Please note: State Aid relates to the payment of public funding to private companies. If you are not familiar with State Aid rules look at the “handbook” produced by the European Commission for a summary of the Regulations. It is the responsibility of the applicant to ensure that any bid submitted is compliant with State Aid Legislation.

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