Business Loans
Development Loan Fund
A £10m Development Loan Fund has been set up by Wyre Forest District Council in collaboration with fund manager Finance Birmingham, to help fuel new development in the area.
Developers and business owners with a project that needs support are encouraged to put in an application to this fund which has been created to boost investment and regeneration in Wyre Forest. Ambitious new schemes which support the council’s priority for regeneration and economic growth are the target projects for the fund.
The intention is to unlock development sites and support economic growth. It is also designed to unlock capital projects that have the potential for job creation and/or housing and can quickly deliver tangible economic outcomes through providing additional capital investment.
Individual funding approvals are invited of between £500,000 and £5,000,000. Applications below £500,000 will only be considered in exceptional circumstances. Projects above this financial range may be considered but must deliver exceptional outputs and/or provide exceptional value for money.
How to Apply
There is no restriction on the type of capital project that may be submitted or the way in which the Development Loan Fund will be applied. However, we have a responsibility to manage public funding effectively and all projects must demonstrate sustainability and economic benefit to the Wyre Forest area and its residents.
The Development Loan Fund is funded by external borrowing and projects will be expected to repay their funding so this debt can also be repaid. Early repayment will be prioritised and taken into account alongside value for money and economic impact. A repayment period of no more than 5 – 7 years is preferred although loan terms of up to a maximum of 15 years may also be considered.
All applications will be assessed against the following criteria:
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