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    Last update 05/08/2024

    Grants and Loans for Startups and Small Businesses in Cherwell Council, UK

    There are several grant and government-backed loan options available for startups and small businesses in Cherwell, UK. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

     

    Grants

    Oxfordshire Local Enterprise Partnership (OxLEP)

    • Offers various grant programs to support businesses in Oxfordshire, including Cherwell.
    • The amounts and eligibility criteria vary depending on the specific program.
    • Website: OxLEP Business Support Tool

     

    Government-Backed Loans

    Start Up Loans

    • A national scheme offering personal loans of up to £25,000 with a fixed interest rate of 6% for pre-start and early-stage businesses.
    • Includes free mentoring and support.
    • Website: Start Up Loan

     

    Recovery Loan Scheme

    • Provides financial support to businesses affected by the COVID-19 pandemic. Loans range from £25,001 to £10 million per business.
    • Website: Recovery Loan Scheme

     

    Other Resources

    Cherwell District Council Business Support

     

    Business Support Tool

    • OxLEP's Business Support Tool can help you identify relevant schemes and opportunities based on your business needs.
    • Website: OxLEP Business Support Tool

     

    Oxfordshire Growth Hub

    • Provides guidance and advice on accessing funding and support for businesses in Oxfordshire.
    • Website: Oxfordshire Growth Hub

     

    Important Tips

    • Research Thoroughly: Define your business needs clearly and look for grants that align with your requirements.
    • Contact Local Authorities: Reach out to Cherwell District Council and OxLEP for the latest information on available grants and loans.
    • Consult Business Support Organizations: Organizations like the Oxfordshire Growth Hub can provide guidance and advice on funding options.

     

    Contact Information

    Cherwell District Council

     

    FAQs about Grants and Loans for Businesses in Cherwell

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

    While specific grants for online businesses may be limited, broader programs from OxLEP 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 Recovery Loan Scheme loans range from £25,001 to £10 million.

     

    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 like the Oxfordshire Growth Hub and local councils can offer guidance and assistance with your application, helping you navigate the process.

     

    This comprehensive overview aims to help you navigate the available funding options for your business in the Cherwell area.

     

     

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