Interest-Free Finance Still Available

The South West Investment Group (SWIG) interest-free loan funds are drawing to a close as the Objective One programme finishes at the end of the year. If you are considering seeking funding assistance applications for these funds should be submitted at the earliest opportunity. 

SWIG is the largest provider of complementary loan finance to small and medium sized businesses in the South West, and manages a portfolio of funds throughout the region which are supported through the Objective One programme and other public and private investors. 

Applications for interest-free finance can be considered from eligible businesses in Cornwall which have potential for growth and job creation but need additional finance to go ahead with a project.  Different levels of support up to a maximum £50,000 contribution are available to assist with capital expenditure or other agreed one-off project costs.  Administration fees are payable once the finance has been drawn down.

SWIG also manages other ongoing loan schemes, and can generally consider match funding applications from small and medium sized businesses in Cornwall, including start-ups, that have viable plans but need to raise more than is possible from the banks and other traditional sources.

About SWIG
To date, SWIG has invested over £8 million pounds into over 800 businesses in the South West to help them start up or expand their operations. This has so far helped to create 1300 jobs in the region with turnover growth over £1/4 billion.

Their aim is to assist businesses that help the local economy, complementing rather than competing with the banks. Their emphasis is on potential rather than collateral or track record, so they can often fund projects where bank support is limited.

For more information, contact Cornwall Pure Business or visit SWIG's website at www.southwestinvestmentgroup.co.uk .