SMALL and medium-sized businesses across Stoke-on-Trent and Staffordshire can apply for interest-free loans of up to £100,000 to support investment and growth.
Scale Up Staffordshire, a joint programme from Stoke-on-Trent City Council and Staffordshire County Council, offers funding for site development, energy efficiency upgrades, equipment and other productivity improvements.
The loans can cover up to 80 per cent of a capital investment, with repayment over two to four years and no administration fee.
Eligible SMEs must have traded for at least three years, be based in or relocating to the city or county, and not receive public funding to operate.
Staffordshire-based Kazoo PSG Ltd has used the scheme to invest in a UV LED Hybrid Printer, bringing forward a project that would otherwise have been delayed.
Director Simon Talbot said: “If it weren’t for the loan we would have had to wait 12 months to implement this project.
“Now, the quality of service we can offer to our clients will improve and production times will shorten, allowing Kazoo PSG Ltd to win new business and increase turnover.”
Talbot said the application process had been smooth, with advice along the way helping make it stress free.
City council leader Councillor Jane Ashworth 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.”
County council leader Martin Murray said Kazoo had doubled production, reduced running costs and won new contracts, and was looking at creating two jobs.
He said: “We want to help more Staffordshire and Stoke-on-Trent businesses unlock their potential, improve productivity and create new opportunities for growth.”
Businesses can express interest by emailing ScaleUp@Staffordshire.gov.uk. Further details are available on the Scale Up Staffordshire website.
