New funding available for businesses in Brighton

Martin Coomber, Fund Manager at The FSE Group, provides information on a new £5million funding initiative which has been launched to help companies in Brighton.

Funding is not always easily accessible when it is needed. Have you been unable to obtain investment despite your growth and expansion plans? If so, you may qualify to apply for the Coast to Capital Funding Escalator.

How much funding is available?
 
A £5 million funding scheme of debt and equity has been launched to help local small and medium sized businesses (SMEs) in Brighton and its surrounding areas access the finance they need to grow and create jobs.
Managed by The FSE Group on behalf of Coast to Capital Local Enterprise Partnership, the £5 million of funding will be split as follows:

• £4 million Expansion Loan Scheme providing between £50,000 and £200,000 to established SMEs;
• £1 million Growth Equity Fund providing between £50,000 and £125,000 as an equity investment to earlier stage SMEs; (Equity investments must be matched with an equal amount of private investment.

Which companies are eligible to apply?

Companies with growth and expansion activities including marketing and sales team development, operational scaling up and new product or service enhancement may be eligible for the loan scheme or growth equity fund.  With its primary purpose of generating economic prosperity and job creation, the Coast to Capital Funding Escalator will only consider opportunities that can demonstrate growth impact.

C2C funding is available to businesses based in the Coast to Capital area which includes: Brighton & Hove, Lewes and West Sussex, Croydon, Tandridge, Epsom and Ewell, Mole Valley, Reigate and Banstead.

Is Sustainability Funding available?

Applicants to the C2C Expansion Loan Scheme could unlock access to a further £200,000 of loan funding through a successful application to the South East Sustainability Loan Fund. Qualifying companies would need to demonstrate that they are developing or selling a product or service that looks to reduce carbon emissions, or are investing in more efficient business practices.
For more information on the South East Sustainability Loan Fund, please visit http://www.thefsegroup.com/business-growth-funding/south-east-sustainability-loan-fund

What is the FSE Group?

FSE C.I.C. is an independent Community Interest Company which invests in ambitious small and medium-sized enterprises (SMEs) that have the potential for significant growth. We understand the funding challenges facing emerging and mid-sized companies looking to expand and provide tailored funding solutions and support to help them achieve their maximum potential.  This includes the provision of fund management services, training and consultancy, and the management of business angel networks. FSE C.I.C. has a number of subsidiary companies to deliver its funds and services, which are collectively referred to as The FSE Group. All regulated activities are delivered through FSE Fund Managers Limited, which is authorised and regulated by the Financial Conduct Authority.

Where can I find out more?

For more information or to apply for funding from the Coast to Capital Funding Escalator, please visit www.c2cbusinessfunding.co.uk.

If you want to contribute to the Chamber blog, contact us on hannah@brightonchamber.co.uk