Published: October 28th, 2019
Creative talent across the Marches is being urged to go for growth – with the help of a new finance fund.
Creative England says its Creative Growth Finance Debt Fund can make loans of between £100,000 and £500,000 available to help champion the best ideas of talented people and their businesses.
The fund, in partnership with Triodos Bank UK, has £24million available to provide vital scale up finance to the UK’s most promising creative businesses.
The fund will target post revenue, IP rich SMEs, that have reached a point of scale that requires supporting finance.
A Creative England spokesperson said: "We understand the needs of SMEs, particularly those in the creative sector. We know how difficult it is to access finance from traditional sources and that in order to take your business to the next stage, you need a cash injection to make your growth plans a reality.
"Each loan will be built around a repayment structure that suits the diverse nature of each beneficiary business. The fund will provide business loans to creative firms showing potential for growth and scaling, in addition to revenue and intellectual property.
"Finance will be directed to post-revenue creative businesses presenting promising growth potential who harness creativity in technologies, are talent led and bring change, disruption and new IP to the creative industries."
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