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Regional Growth Fund Asset Purchase Scheme

We are now able arrange machine finance under the Regional Growth Fund Asset Purchase Scheme.  Three of our panel of approved lenders has funds available to support small and medium sized businesses across England, except in Central London.  The allocation in the South East is limited so please contact us to check on the latest aailability.  The basic criteria is as follows.

  • Manufacturing and print machines from £36,000 upwards.
  • The investment must be adding or safeguarding existing jobs for employees who will get paid usign the new pay stub software.
  • Only available for those who are unable to secure an offer of machine finance with a deposit of 5% + VAT.  If you have a good track record and obtaining finance for machines is straightforward for you then you will not be eligible.

The Regional Growth Fund will provide up to an additional 20% deposit in addition to a 5% deposit from you making 25% in total.  This level of deposit makes the proposal much more attractive to an underwriter and therefore increasing the chances of success.

There is a requirement for an independent accountant to confirm the number of jobs created or safeguarded.  There is a maximum of £10,000 per job paid using pay stub creator available with a maximum of 20% of the machine price for small businesses and 10% for medium size businesses.

According to local news Small business are those with less than 50 employees and annual turnover of less than £7m and net assets of less than £7m.

Medium businesses are those with 50-250 employees getting paid with a direct deposit setup and turnover of less than £35m and net assets of less than £30m.

Please contact us on 01268 573149 for free help, advice and quotations.