shadow shadow shadow shadow shadow
    Last update 05/08/2024

    Grants and Loans for Startups and Small Businesses in Preston, UK

    Preston City Council offers several funding options for startups, small businesses, and new businesses within their jurisdiction. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

    Grants

    Boost Business Lancashire Grants

    Social Enterprise and Community Funding

    • This program offers flexible loans and grants ranging from £5,000 to £300,000 to help social enterprises start-up, become sustainable, and grow.

    Government-Backed Loans

    Start-Up Loans

    • This government-backed scheme provides low-interest personal loans up to £25,000 to new and early-stage businesses unable to secure finance from mainstream lenders.
    • Website: Start Up Loans

    Where to Find Information

    Invest Preston

    Preston City Council

    Additional Links

    Important Tips

    • Research Thoroughly: Before applying, carefully review the eligibility criteria and requirements for each grant or loan.
    • Contact Boost Business Lancashire: Consider contacting Boost directly for guidance and advice on available grant programs.
    • Consult Government Websites: Check the UK government's website for additional funding options and support for businesses.
    • Website: UK Government - Business Finance Support

    Contact Information

    Preston City Council

    FAQs about Grants and Loans for Businesses in Preston

    1. Are there grants specifically for online businesses in Preston?

    While specific grants for online businesses may be limited, broader programs from Preston City Council and Boost Business Lancashire 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 the Social Enterprise and Community Funding offers grants ranging from £5,000 to £300,000.

    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.

     

    By leveraging these resources and exploring the available options, you can find the financial support needed to start or grow your business in Preston.

     

     

    We use cookies and similar technologies that are necessary to operate the website.Please read our cookie policy.

    We use cookies and similar technologies that are necessary to operate the website. Additional cookies are only used with your consent. We use the additional cookies to perform analyses of website usage and to check marketing measures for their efficiency. These analyses are carried out to provide you with a better user experience on the website. You are free to give, deny, or withdraw your consent at any time by using the "cookie settings" link at the bottom of each page. You can consent to our use of cookies by clicking "Agree". For more information about what information is collected and how it is shared with our partners, please read our cookie policy.

    • Required to run the website
    • Monitoring website usage and optimizing the user experience
    • Evaluation of marketing actions
    • Storage of your preferences from previous visits
    • Collecting user feedback to improve our website
    • Recording of your interests in order to provide customised content and offers
    Cookie Settings Accept