The Kent and Medway Business Fund are offering 3 new loan schemes in response to the economic crisis caused by Covid-19. The aim is to help businesses recover and return to growth.
KMBF Recovery Loan:
- Offering loans of £50k to £100k.
- Match funding is not required.
- Deferred repayments for 12 months.
- Repayment period 5 years, thereafter (less if the business has over 50 employees)
- Scheme will support the provision of working capital.
- 5% administration fee.
- Must have been trading for at least 3 years as of 31 December 2019.
- Security: PG of 10% of loan value will be requested.Pre-applications for this loan are open now but will close on 14th August 2020
KMBF Capital Growth Loan:
- Offering loans of £50k to £100k.
- No match funding required.
- Deferred repayments for 12 months.
- Repayment period 5 years, thereafter (less if the business has over 50 employees)
- 5% administration fee.
- Scheme will support the purchase of capital tangible and non-tangible assets.(buildings, construction, equipment, technology etc)
- Must have been trading for at least 3 years as of 31 December 2019
- Security: PG of 10% of loan value will be requested.
Pre-applications for this loan are open now but will close on 14th August 2020
Kent & Medway Business Fund
- Offering loans of £101k to £500k.
- Match funding required.
- Deferred repayments for 12 months.
- Repayment period 5 years, thereafter.
- 5% administration fee.
- Scheme will support the purchase of capital tangible and non-tangible assets. (buildings, construction, equipment, technology etc)
- Security will be requested to cover the entire value of the loan.
This scheme will open for pre-applications on 17th August