One of our clients has received a government grant of £38,000 towards the cost of their new machinery under the Regional Growth Fund (RGF) scheme in December 2015.
Overview of the Regional Growth Fund
The Regional Growth Fund (RGF) has supported eligible projects and programmes, raising private sector investment to create economic growth and lasting employment. Since its launch in 2010 it has invested £2.7 billion to help local businesses grow and take on more staff across England.
On average for every £1 invested through the RGF, the private sector has put in £5.50 with the total investment of private sector support expected to be £16 billion. 149,000 jobs have already been created and a total of 581,000 are expected by the mid-2020s.
RGF funding still available
RGF money is still available through RGF programmes. RGF programmes are run by national or local organisations offering grants and/or loans to eligible businesses. If you run a business and are looking for funding of less than £1 million, you may be able to apply to an RGF programme.
If you are looking to purchase new machinery and would like to consider the possibility of receiving a grant to support a finance based purchase during 2016 then you may wish to consider contacting Asset Based Finance & Leasing Ltd (ABFL) who are Authorised and Regulated by the Financial Conduct Authority. They are also a member of the National Association of Commercial Finance Brokers. Their contact details are on their website: abfl-ltd.co.uk/contact