The council's business team can offer advice and help to access funding. We can support businesses by sign-posting them to relevant sources of financial assistance. This includes both national and local grants or funds. These may be available to firms from European or UK sources.
Grants
Selective finance for investment (SFI) grant
In most areas of North Lincolnshire, the SFI grant is available at tier three level. This is for small and medium sized manufacturing companies only.
There are a few sites in the area however that can be assisted at tier two level. For all sizes of manufacturing company with a capital investment in excess of £500,000.
For more information about the grant and the assisted areas, please contact the business team (details are below)
Or visit The Department of Trade and Industry website.
Loans
Bees Knees loan scheme
- Available for North Lincolnshire based start-up and existing small businesses that have been trading for up to four years
- Aimed at people who cannot raise the full amount of finance needed from the usual sources such as banks, for a variety of reasons
- Can be used as a 'top-up' finance to supplement monies from other sources
- Option of a six-month repayment holiday
- Loans of up to £15,000.
For more information call 01724 275170.
UK Steel Enterprises Limited (formerly BS(I) Ltd) and British Coal Enterprises:
- Top up loan finance to facilitate projects
- Loans are usually between 20 per cent and 30 per cent. Of the total borrowing requirement. Up to a limit of £250,000.
Visit the UK Steel Enterprise Website.
European Investment Bank:
- Loans for large-scale investments. Available to companies with fixed assets of less than £50 million
- Up to 50 per cent of the total borrowing requirement. At a favourable interest rate.
Central Government loan guarantee scheme:
- This scheme operates throughout the whole of North Lincolnshire
- Bank loans can be guaranteed by Central Government. For up to 85 per cent of the total borrowing requirement. To a limit of £250,000.
Equity finance
UK Steel Enterprises Limited (formerly BS(I) Ltd) and British Coal Enterprises:
- Offer equity finance to small and medium enterprises. Some of which can be on a non-participating basis.
Visit the UK Steel Enterprise Website.
The 3i and Yorkshire Enterprise:
For larger companies seeking finance. These two organisations have shown their faith in North Lincolnshire businesses and people by offering loans, equity, guarantees and funding for management buyouts.
Visit the 3i and Yorkshire Enterprise websites.
Contact information
If you would like more information how the Economic Development Team can help your business obtain funding please contact
Economic Development Team
North Lincolnshire Council
Church Square House
PO Box 42
DN15 6XQ
Tel: + 44 (0) 1724 297330
Email: business.enquiries@northlincs.gov.uk.
Online enquiries
You can now enquire about funding or any of our business services online by using the business team enquiry form.
Links: