Rural Lancashire Development Fund
What is the Rural Lancashire Development Fund?
This is a scheme by Lancashire County Council's economic development department, Lancashire County Developments Ltd, supporting new and existing businesses in rural areas of the County, which demonstrate potential for high growth.
Support is available for capital and revenue activity through an unsecured loan of up to £10,000 available at competitive rates of interest. If certain agreed targets are achieved, businesses may qualify for a 50% reduction.
The fund is open to applications until 30th November 2011
Are you eligible for support?
Eligible projects should aim to achieve one or more of the following targets:
- Job creation and the safeguarding of existing jobs
- Creation of new rural businesses with high growth potential
- Assisting the development of established businesses with high growth potential
- A better skilled workforce through vocational training activity
- New and renovated buildings for employment purposes
- Increased business productivity and profitability
How much can you apply for?
Applications for £2,000 up to £10,000 of loan support are invited. Loans incorporate a 2.5% arrangement fee and are typically arranged over a period of 2 to 5 years.
How long until a decision is reached?
Depending on the project size and complexity, a decision may take up to 12 weeks from submission of an initial enquiry.
Who can apply?
Individuals seeking to start a new business or existing operations which are able to demonstrate potential for high growth, located in and benefitting the rural adminsitrative areas of Lancashire County Council.
How do I apply?
Please submit an Initial Proposal Form, available from the Rural Business Support Team via www.lcdl.co.uk or:
The Rural Development Team,
Lancashire County Developments Ltd, Lancashire County Council,
PO Box 78, Preston PR1 8XJ
Tel: 01772 536600
Fax: 01772 536601
E-mail: lcdl.rural@lancashire.gov.uk