Science & Technology

Dorset LEP launches £2m Growing Places funding round offering SMEs loans for capital projects

The Poole facility of Field International, who used a £2.3m Growing Places loan to help safeguard 50 local jobs.

By Daniel Face [email protected]

Published: October 26, 2023 | Updated: 15th November 2023

Applications are now open for Dorset SMEs seeking short-term finance as part of the latest £2 million Growing Places Fund investment round.

Dorset LEP logoBusinesses and organisations based in the county can request loans for capital investments with tangible economic outcomes – for example, boosting productivity or creating local jobs.

Loans are repayable over a maximum period of five years at a minimum of £250,000.

Vinita NawatheVinita Nawathe, Executive Director of Dorset LEP, said: “We welcome applications from Dorset SMEs or other organisations who are seeking finance for capital projects that will bring economic benefit to the Dorset area.

“Our rolling loan scheme has provided £17.9m of funding over 13 projects since its first launch.

“We’re excited to be re-opening the scheme for this round of investment.”

The Growing Places Fund has previously financed the opening of a new business development hub – The Factory in Poole – as well as Dorset Green H2, the first green hydrogen facility in the South West.

Lecture theatre-style room with chairs lined up in rows

The Factory, Poole

Applicants will undergo a two-stage selection process, as per the Growing Places Fund prospectus. The closing date for applications is 15th December 2023.

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