From direct investment and loans to business mentoring; Creative England champion the best ideas of talented people and their businesses. Here is a message from them about their Creative Growth loans, on offer to creative businesses:
Creative England understands 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.
Creative Growth Finance Debt Fund
The Creative Growth Finance Debt Fund, in partnership with Triodos Bank UK is a £24million fund 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. 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.
– Loans of between £100,000 – £500,000*
– Repayment terms of between 1 – 4 years
– Flexible repayment schedules; repayments monthly, quarterly or annually
– A fixed interest rate of between 7.5% – 15% depending on the risk profile
– A 5% management fee charged on payment of the loan
To be considered for a Creative Growth Finance Loan your company must:
– be registered in the United Kingdom
– have been trading for at least two years
– have identifiable revenues and customers
– operate within the creative industries
– have minimum annual revenues of £300,000
– have at least two years of accounts filed at Companies House
For further information and to apply, please visit our website at https://www.creativeengland.co.uk/creativegrowthfinance/
To learn more about the fund and criteria for applying please read our FAQs.
For more industry information, visit our news page.