Interest-free loans of up to £100,000 are available to help local businesses invest and grow. Stoke-on-Trent City Council and Staffordshire County Council have joined forces on Scale Up Staffordshire, an interest-free loan for businesses across both the city and county.
The programme provides businesses that have been operating for three years or more, with the chance to borrow up to £100,000 interest-free for investment in site development, energy efficiency upgrades, equipment purchases and productivity-boosting improvements.
Available to SMEs that are based in Stoke-on-Trent and Staffordshire, or looking to re-locate into the areas, Scale-Up Staffordshire offers businesses the chance to fund up to 80 per cent of a capital investment, with a payback period of two to four years and no administration fee.
Councillor Jane Ashworth, Leader of Stoke-on-Trent City Council, said:
“Investment is often key to growth and for ambitious SMEs, an interest-free loan can purchase or upgrade equipment, develop a site or provide capital project improvements that help increase capacity, boost productivity and reduce costs.
“Working with Staffordshire County Council to provide Scale Up Staffordshire for SMEs across Stoke-on-Trent and the county ensures we can support the local economy as a whole and support our businesses as they look to step up to the next level or invest in vital equipment."
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