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Business grants and loans

​​​​​​​​ ​​​​The Business Growth Hu​​​​b  offers a range of services to help you access finance, prepare to present to investors, assess and manage your budget effectively and develop a financial strategy to support growth.​

Finance services for start ups and established businesses​​

  • Access to Finan​ce - FREE service to eligible small and medium size businesses in the North West. Services offered include an assessment of your financial position and funding requirements.
  • Business Finance Solutions: - government backed finance products for you and your business.
  • Business finance and support find​​er: - GOV.UK guides your search to find business finance, including government grants and publicly-backed finance and loans.
  • ​LEADER Rural Development Fund - The programme offers grants to small and medium sized rural businesses for development in parts of Heywood, Norden and the border with Whitworth​.​

Finance services for established businesses

  • Rochdale Apprenticeship Progression Grant​​​ - support for employers and existing apprentices who progress to higher level qualifications.
  • South Pennines LEADER - LEADER is now open for business and accepting new applications for funding. The programme offers grants to small and medium sized rural businesses for development in Littleborough, Milnrow and Whitworth​​​.

Greater Manchester Investment Fund

This is a fund managed by the Greater Manchester Combined Authority to encourage business growth and job creation in Greater Manchester.

Loans are available for eligible companies that are having difficulty accessing traditional forms of finance from the private sector. Loans will typically be for up to 5 years, with the commercial interest rates reflecting the risk profile of the business.

What's available?

Benefits include:

  • Flexible loans of £500,000 to £5 million.
  • No specific security requirements, although the level of security will impact on the interest rate.
  • No financial covenants attached to the loans; instead, information covenants to monitor outputs.

Investment criteria

Projects can qualify if:

  • They have been turned down by a bank or other lender but can sustain a level of debt repayment.
  • There is a funding gap (ie the business has secured some financing but needs additional debt support to proceed).
  • They demonstrate a clear link to jobs secured within Greater Manchester. The focus of the programme is on new job creation, but jobs safeguarded will also be considered.

Greater Manchester Housing Fund

 

The Greater Manchester Housing Fund represents a cornerstone of Greater Manchester's housing growth strategy, and specifically targets the ongoing constraints within the residential finance market, including the reduced risk appetite many lenders continue to exhibit and ceilings on the financial exposure they are prepared to accept.

This Housing Fund will initially provide loan development finance for private sector partners on a fully recoverable basis. It will be managed by the Greater Manchester  Combined Authority on behalf of the ten councils in Greater Manchester. The Fund will be open to applications on an ongoing basis.

Greater Manchester Housing Fund Prospectus


Contact

0161 359 3050 (8.30am-5pm)

Business Growth Hub
Churchgate House
56 Oxford Street
Manchester M1 6EU ​​

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