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Preston businesses urged to blossom with Rosebud finance fund

Posted on - 19th October, 2014 - 8:00am | Author - | Posted in - Business, News
The fund aims to increase the number of jobs in Preston and further afield

The fund aims to increase the number of jobs in Preston and further afield Pic: George D Thompson

Blossoming businesses in Preston are being invited to apply for up to £49,000 to support their growth.

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The Rosebud Micro finance scheme from Lancashire County Council is targeting four key sectors to drive the county’s economy.

Creative and digital, finance and professional, energy and environment and aerospace and advanced manufacturing.

The economic development of the county council, Lancashire County Developments Limited, can give between £10,000 to £49,000 for business plans.

Rosebud Micro loans are offered at 4% above the Royal Bank of Scotland base rate, with a one-off 2.5% admin fee.

County councillor Niki Penney, chair of LCDL, said: “The funding landscape has changed in recent years. It’s no longer the case that banks will lend on their own – they want businesses to source other funding, which could include Rosebud Micro. This helps banks to share their risk.

“We’re looking for ambitious growing businesses, which are based in Lancashire or relocating here. Rosebud Micro could be the answer to unlocking new funding for your business.”

“Companies sometimes need extra funding to support their big idea. Rosebud Micro can be used to support your business – whether it’s to develop a new product, for new equipment, recruitment or to help open up new markets.

“Rosebud Micro offers sector-specific support and can help to flag up opportunities for your business. You’ll get support from locally-based sector specialist advisors to help fuel your growth.

“It includes hands-on support, including half-yearly meetings with sector specialists – which we know was valued by the businesses we’ve helped.”

More information is available on the Rosebud information page.

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