£100,000 loans to create jobs in Rutland

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Small businesses in Rutland can bid for loans of £100,000 for projects that will help to create jobs.

The Growing Places Fund from the Greater Cambridge Greater Peterborough Enterprise Partnership has £5 million available to invest in local projects in the region.

Firms can apply for loans for schemes that will help stimulate economic growth and create more jobs.

Mark Reeve, chairman of the local enterprise partnership said: “This £5 million of funding will help to support our businesses and local authorities to help unlock jobs and accelerate economic growth. We are able to launch this £5 million call for projects thanks to a successful first round of projects that have repaid their loans.”

The Government originally provided £16.1 million worth of Growing Places Funding. Investing it helped generate a further £26 million of private and public funding and created 12,500 jobs in the partnership area. Projects helped include Oakham Enterprise Park and Fletton Parkway improvements in Peterborough.

A minimum bid of £100,000, available at competitive rates, is for projects that can pay back in under three years, although longer payback periods may be considered. Bids must be submitted by March 7, 2014.

To find out more about the scheme and how to apply go to http://is.gd/GPFR2