New start-up businesses throughout Bassetlaw have been taking advantage of the Council’s ‘Loan to Grant scheme’.
The scheme, which has been running for two and a half years, allows successful applicants to receive a grant up front as a personal loan, enabling them to buy business items agreed at the time of the offer.
If the business can provide evidence of these purchases within three months of the grant being awarded, the loan is written off.
Unlike other grant schemes, which work on the basis that the applicant buys their business items first and then claims back costs, the Bassetlaw scheme’s up front loan, helps small businesses who may have been put off applying due to cash flow issues.
Coun Jo White, Cabinet Member for Economic Development at Bassetlaw District Council, said: “We want to encourage and help new business grow and become established in Bassetlaw, creating new jobs and helping driving our local economy.”
Katy Robinson, Opus Salon, Worksop said: “When you are starting a new business, cash flow can be a big worry. Having the finance upfront, along with advice and support takes that worry away. The grant allowed me to purchase fixtures and fittings, which I would otherwise have had to wait to install in the salon.
“I would recommend this scheme to anyone who is just starting out in business and worried about their outgoings.”
To apply email firstname.lastname@example.org.