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    Last update 21/07/2025

    Government‑Backed Loans for Startups & SMEs in Lichfield, Staffordshire


    Key Loan Schemes

    🔹 Start‑Up Loans


    🔹 British Business Bank

    • Description: Offers a portfolio of financing tools, including small business loans, equity finance, and Growth Guarantee backed by state guarantees.

    • Learn more:
      🔗 British Business Bank (The Times, Wikipedia)


    🔹 Staffordshire 0% Start‑Up Loans

    • Description: County-wide scheme offering interest-free unsecured loans of £3,000–£5,000 to businesses under 2 years old. Loans are repaid in full after 12 months with no interim repayments or security required.

    • Apply via Staffordshire County Council:
      Call or email: startuploans@staffordshire.gov.uk or phone 0300 111 8010 (Cheadle COG)


    🔹 Midlands Engine Investment Fund (MEIF II)


    🔹 Staffordshire Business Loan Fund (via BCRS)


    Local Business Support


    How to Access Support

    1. Define your funding need (startup, growth, equipment, hiring).

    2. Explore your options via council, Growth Hub, and MEIF.

    3. Engage early with Staffordshire Business Support or Growth Hub advisors.

    4. Organise documentation (business plan, cashflow forecasts, quotes).

    5. Apply through official portals or advisors.

    6. Prepare for reporting post-loan to demonstrate project success.


    Additional Advice

    • Check eligibility carefully—some loans are limited to businesses under two years old or specific sectors.

    • Combine funding strategically—grants, 0% loans, and commercial loan products can be used together.

    • Use mentoring and workshops (like “Get Started & Grow”) to strengthen finance cases.

    • Stay updated—loan availability and terms do evolve with government funding cycles.


    Contact Details

    Staffordshire County Council – Business Support
    📞 0300 111 8010 | ✉️ startuploans@staffordshire.gov.uk
    🔗 Get Started & Grow (highpeak.gov.uk, Cheadle COG, Midlands Engine Investment Fund, startupgrant.co.uk)

    Stoke & Staffs Growth Hub
    🔗 Funding & Support (tamworth.gov.uk)

    British Business Bank – MEIF II
    🔗 MEIF II Overview (British Business Bank)

    Staffordshire Business Loan Fund (BCRS)
    🔗 Loan Fund Details (staffordbc.gov.uk)


    FAQs

    ▫️ Who qualifies for Staffordshire 0% Start‑Up Loans?
    Businesses under two years old in Staffordshire (excluding Stoke-on-Trent), attending a mentoring programme. (Cheadle COG)

     

    ▫️ What range does MEIF II cover?
    Loans from £25,000 up to £100,000; debt finance up to £2 million; equity up to £5 million. (Midlands Engine Investment Fund, British Business Bank)

     

    ▫️ Are there commercial loan options here?
    Yes—Staffordshire Business Loan Fund offers £10k–£150k via BCRS. No security is required in most cases. (staffordbc.gov.uk)

     

    ▫️ Do I need business support to access funding?
    Yes—participation in mentoring or business support programmes is often required before accessing 0% loans.

     

    ▫️ Can I mix these funding types?
    Absolutely—businesses often combine a grant, 0% loan, and commercial debt to fund growth.

     

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