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Last update 02/08/2025

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2025 Grants and Loans for Startups & Small Businesses in Rossendale, UK

Introduction

Supporting micro, startup, and small businesses across Rossendale (including Rawtenstall, Haslingden, Bacup), this guide outlines the latest grant and government-backed loan options, along with local support services. You'll find eligibility criteria, application steps, and live links to trusted resources.

Available Grants

🔹 Rural Economic Development Grants (RED Grants)

Purpose: Support rural Rossendale businesses to invest in growth through capital, marketing, skills development, and job creation.
Funding: Typically covers up to 50% of project costs, depending on the scheme.
Eligibility: Small or micro‑businesses based in rural parts of Rossendale.
Info & Apply:
Rossendale Borough Council – Growing your business (Rossendale Borough Council)

🔹 Business Growth Grants

Purpose: Support local businesses expanding operations or creating jobs.
Funding: Grant levels vary; typically offers match funding.
Eligibility & Availability: Occasional rounds—check the council’s site for updates.
Find the latest details:
Rossendale Borough Council – Growing your business (Rossendale Borough Council)

🔹 Rossendale Community Fund (Community & voluntary groups only)

Purpose: Support community-based activity, youth engagement, training or cultural projects. Not available for profit-making small businesses.
Funding: Grants up to £1,000.
Not eligible: Commercial businesses or private projects (Facebook, CFL)

Government-Backed Loans

🔹 Start Up Loans (British Business Bank)

Loan range: £500 to £25,000
Rate & Extras: Fixed 6% interest, plus 12 months’ free mentoring
Eligibility: UK residents over 18, planning stage or under‑3‑year‑old business
Apply here:
https://www.gov.uk/apply-start-up-loan

🔹 Growth Guarantee & Enterprise Finance Guarantee

Purpose: Helps SMEs access loans, overdrafts, or invoice finance even without full security.
Loan limits: Up to £1 million
How to apply: Through accredited lenders
More details:
British Business Bank Finance Options

Other Local Support

🔹 Rossendale Economic Development Team – Local Advice & Networking

The council hosts ‘Rossendale Means Business’ events (e.g. June 2025) to foster local networking and guidance.
They offer direct advice on funding routes, including grants and loans.
Explore support services here:
Rossendale Borough Council – Growing your business (startupgrant.co.uk, Facebook, Rossendale Borough Council)

Eligibility Guidance

Use the GOV.UK Business Finance Support hub to filter national schemes.
Confirm local scheme eligibility via Rossendale’s Economic Development Team.
Rossendale sits within Lancashire, and support is coordinated via Growth Lancashire enterprises (Rossendale Borough Council, lancashire.gov.uk).

Application Process

Identify suitable schemes (e.g. RED Grants or Start Up Loan).
Gather required documents:
- Business plan or project outline
- Cost estimates or quotes
- Proof of rural business location or operations
Contact the Economic Development Team for guidance.
Submit application via official form or email.
The decision is usually first‑come, first‑served.
If awarded funds, complete the project and submit invoices or outcomes as required.

Additional Tips

Attend local business events like Rossendale Means Business for networking and referrals.
Match funding is often required; ensure you can self-fund initial costs before claiming.
Keep an eye on funding rounds, as availability may shift with UKSPF allocations (startupgrant.co.uk, rd.usda.gov, Rossendale Borough Council, Facebook).
Document everything for compliance and audit‑ready record keeping.

Contact & Further Information

Rossendale Borough Council – Growing Your Business:
https://www.rossendale.gov.uk/business/growing-business (Rossendale Borough Council)
British Business Bank – Start Up Loans & Loan Guarantees:
https://www.gov.uk/apply-start-up-loan
https://www.british-business-bank.co.uk/finance-options/debt-finance/growth-guarantee-scheme

FAQs – Business Grants & Loans in Rossendale

🔹
Are there grants specifically for online-only businesses?
While RED Grants and Business Growth Grants target rural operations, businesses offering digital services may still qualify if they help create local jobs and growth.

🔹
How much funding is available?
Business Growth Grants vary by round. RED Grants usually cover ~50% of costs. Start Up Loans offer up to £25,000.

🔹
Can pre-start businesses apply?
Yes — the Start Up Loan scheme supports pre-start or early-stage businesses.

🔹
Is a business plan necessary?
Yes, especially for loan applications. For grants, applicants should provide a clear proposal outlining benefits and costs.

🔹
How long does the funding process take?
RED and Growth Grants are typically processed within weeks (subject to available budget). Start Up Loans can take up to four weeks.

🔹
Can I combine different funding schemes?
Yes, for example, combining a local grant with a Start Up Loan, if both are eligible and the terms allow.

🔹
Are there any application fees?
Grant schemes generally have no fees. Start Up Loans have no arrangement fees; other lenders may charge minimal interest or fees.

🔹
Does my business need to be in a high-growth sector?
No—most schemes in Rossendale support diverse sectors focused on community growth and job creation.

🔹
Can funds be used for marketing or training?
Yes—if covered under approved project costs like marketing, training, equipment, or capital improvements.

🔹
Where can I get help preparing my application?
Contact Rossendale’s Economic Development Team or attend local business networking events for support and guidance.

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For New Businesses:

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