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£4m available through Tees Valley Growing Places
A SECOND round loan fund to help kick start capital projects is launched today (Fri 1 March) by Local Enterprise Partnership, Tees Valley Unlimited.
£4m is available through the Growing Places programme and businesses, private developers and public sector and partner enterprises are urged to apply for the money before the closing date of 30 April 2013.
Stephen Catchpole, managing director at TVU, said:
“Growing Places loans are available for projects within Tees Valley that can show they will have a positive impact on the local economy. This could be anything from buying, constructing or enhancing an existing building that would then house a business and support jobs; to developing an area of land to prepare it for further investment.
“Applications will go through a competitive process with the successful bids those that offer the greatest return on investment. It’s a significant pot of money to help ready Tees Valley for growth and we want to ensure Growing Places has a lasting effect on our economy.”
Today’s announcement is the second open call for applications with several projects submitted last time currently going through due diligence.
“Projects must be ready to go with clear business plans and the relevant planning permissions in place, this will lead to a quick return on the investment which can be reallocated into subsequent projects.
“We know access to finance is a major hurdle in today’s tough economic climate and believe Growing Places could be a constructive route in making things happen.”
The Growing Places application form can be downloaded from the Tees Valley Unlimited website alongside guidelines and frequently asked questions.
More information is also available on 01642 524 424.
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