Michelin Development has doubled the amount of funding it can offer to North Staffordshire businesses targeting growth.
The programme is increasing the maximum value of subsidised, unsecured loans that small and medium-sized enterprises can access from £50,000 to £100,000.
In 2024, Michelin Development marks 20 years of delivering financial support to organisations and companies based in and around Newcastle-under-Lyme, Stoke-on-Trent and the Staffordshire Moorlands with the potential to create high-quality, sustainable jobs.
The team behind the initiative is now appealing to local businesses to get in touch and see if they are eligible for support.
Carol Hopkins, of Michelin Development in the UK, said: “Since 2004, we’ve supported a number of businesses looking to grow and now, as we approach our 20th anniversary, we’ve increased the maximum value of our support to meet economic changes and the increased costs involved in growing a business.
“We are committed to supporting the economy in the local area in and around our Stoke-on-Trent site, and to see businesses in the region thrive.
“Our message to entrepreneurs and high-growth companies who want to invest in the future and create local, high-quality jobs is to get in touch and see if they are eligible for the programme.”
Michelin Development is backed by a steering committee, which includes Staffordshire Chambers of Commerce, NatWest Bank and Stoke-on-Trent City Council Economic Development Unit.
Successful applicants must employ fewer than 250 people and be involved in manufacturing, engineering or the service sector (business to business).
The loans can usually be used to attract additional funding from other sources.
To find out more visit www.michelindevelopment.co.uk
