If you are looking for business funding, your first point of contact should be our Business Engagement team. They will be able to discuss your business needs and identify the best way forward based on support available from us and partner organisations.
If you would like to discuss plans and learn about what support is available, please contact our Business Engagement team on 01257 515300 or by email to edu@chorley.gov.uk.
Business support funding is available includes:
- start up loans
- Rosebud business finance
- Access to Finance
- Northern Powerhouse Investment Fund
- your local bank
- apprenticeships
Start up loans
Start up loans is a UK wide government backed scheme which offers a repayable loan to individuals over the age of 18 who have a viable business idea but no access to finance. The scheme funds businesses in every sector.
As well as financial backing all loan recipients are given access to a mentor, free training events and exclusive business offers. Loans are available from £250, but the amount you can borrow will be determined by your business plan. To be eligible to apply for a start up loan, your business must have been trading for less than 24 months.
View more information on start up loans.
Rosebud business finance
Rosebud enables Lancashire’s most ambitious businesses to grow.
Its vision is to see Lancashire businesses and people fulfil their potential, driving the growth of Lancashire’s economy.
It provides the resources, tools and connections to help ambitious businesses to thrive.
Rosebud offers a range of financial and growth support services. This includes hands-on support, expert guidance and tailor-made finance packages or co-investment opportunities for companies across Lancashire from a diverse range of sectors and industries, who are looking to grow and scale.
Eligible businesses - those who are operating as a limited company and based in one of the 12 Lancashire Country Council Local Authority Areas can borrow from £25,000 to £100,000 with interest rates up to 14%, for up to 5 years.
View more information on Rosebud business finance and the terms and conditions on the Rosebud business finance website.
Access to Finance
Businesses looking for finance, whether for the first time or after they have been declined by a lender, can receive free and impartial advice from Access to Finance.
Services the team provide include:
- an assessment of your financial position and funding requirements
- assistance with the development of a business plan
- coaching and mentoring to develop an investment proposition
- introductions to suitable finance providers
- support at meetings with lenders and investors.
View more information on Access to Finance on the Boost Business Growth Hub website.
Northern Powerhouse Investment Fund
The Northern Powerhouse Investment Fund offers 3 different funding options designed to plug gaps in the provision of commercially available finance, ranging from £25,000 loans to £2million equity investments.
Funding options include:
- small business loans. £25,000 to £100,000, for new or growing businesses to support working capital needs
- business loans. £100,000 to £750,000, for early stage or more established businesses that can demonstrate growth potential
- early stage and later stage equity funding. £50,000 to £2million, for start-ups or more established businesses with high growth potential.
View more information on the Northern Powerhouse Investment Fund.
Your local bank
Banks can offer practical solutions and a range of products to support your business, whether it is business growth or asset purchases, your bank could potentially help you to secure vital 'match funding' for other funding programmes.
Apprenticeships
Apprentices are aged 16 or over and combine working with studying to gain skills and knowledge in a specific job and can be new or current employees.
You can get government funding to cover some of the cost of training and assessing an apprentice if you are in England.
You must pay the apprentice at least the minimum wage. Apprenticeships must last for at least a year and can last up to 5 years depending on the level the apprentice is studying.
Your apprentice must:
- work with experienced staff
- learn job-specific skills
- get time for training or study during their working week (at least 20% of their normal working hours).
There are several steps to taking on an apprentice. View more information on employing an apprentice on the GOV.UK website or contact the National Apprenticeship Service on 0800 015 0600. You can also check with our Business Engagement Team by email to edu@chorley.gov.uk or by calling 01257 515300.