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    Last update 05/08/2024

    Grants and Loans for Startups and Small Businesses in Reigate and Banstead, UK

    Reigate and Banstead Borough Council offers several grants and directs you to government-backed loan options for startups and small businesses. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

    Grants

    Business Support Grants

    • These grants are available for small businesses looking to start, develop, or grow within the borough. The grants can be used to fund various aspects of business development, such as marketing, equipment, or training. The maximum award is £1,000 per application.

    Town Centre Vitality Fund

    • This grant is specifically for businesses located in Redhill or Horley town centers and aims to improve the vitality and viability of these areas.

    Government-Backed Loans

    Start Up Loans

    • The council provides information on Start Up Loans, a government-backed scheme offering personal loans of up to £25,000 for new businesses. These loans come with a fixed interest rate and offer free mentoring and support.

    • Website: Start Up Loans

    Other Funding Opportunities

    • The council also lists other funding opportunities available for businesses, including the Coast to Capital Growth Hub and the British Business Bank.

    Additional Resources

    Reigate & Banstead Business Awards

    • The council hosts annual business awards to recognize and celebrate local businesses' achievements.

    How We Can Support Your Business

    Eligibility and Application Process

    • The eligibility criteria and application process for each grant program vary. It's essential to check the council's website for detailed information and deadlines.

    Business Support Grants

    • Businesses must be based in Reigate and Banstead, have fewer than 50 employees, and not be in financial difficulty. The application process involves submitting a business plan and financial forecast.

    Town Centre Vitality Fund

    • Businesses must be located in specific areas of Redhill or Horley and demonstrate how the grant will contribute to the town center's vitality.

    Additional Links

    Important Tips

    • Research Thoroughly: Before applying, carefully review the eligibility criteria and requirements for each grant or loan.

    • Contact the Council: Reach out to Reigate and Banstead Borough Council's business support team for the most up-to-date information and guidance.

    • Network with Other Businesses: Connect with other local businesses and entrepreneurs for advice and support.

    Contact Information

    Reigate and Banstead Borough Council

    FAQs about Grants and Loans for Businesses in Reigate and Banstead

    1. Are there grants specifically for online businesses in Reigate and Banstead?

    While specific grants for online businesses may be limited, broader programs from Reigate and Banstead Borough Council can support various business types, including online ventures.

    2. How much funding can I get through these programs?

    Funding amounts vary depending on the program. For example, Start Up Loans offer up to £25,000, while Business Support Grants offer up to £1,000.

    3. Am I eligible if my business is not yet registered?

    Some programs may require your business to be registered, while others might support pre-start businesses. Check the specific program requirements for details.

    4. What kind of business plan do I need?

    A detailed business plan outlining your business model, target market, financial projections, and growth strategy is usually required for application.

    5. How long does the application process take?

    The application timeline varies for each program. Contact the organizations directly for estimated processing times.

    6. Can I apply for multiple grants or loans?

    In some cases, you might be able to combine funding from different sources. Consult with the program providers for guidance on this.

    7. Are there any fees associated with applying?

    Most grant programs do not have application fees, but loan schemes might have arrangement or interest fees. Check the specific details for each program.

    8. What if my business is not in a "high-growth" sector?

    While some programs prioritize high-growth sectors, others might have broader eligibility criteria. Explore all available options to find suitable funding.

    9. Can I use the funding for marketing and advertising?

    Generally, funding can be used for various business expenses, including marketing, website development, and inventory. Verify specific allowable expenses with each program.

    10. Where can I get help with my application?

    Business support organizations and the council's economic development team can offer guidance and assistance with your application, helping you navigate the process.

     

     

     

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