- Department for Business, Energy & Industrial Strategy
- 20 March 2017
- Type of support:
- Finance and Loan
- Business stage:
- Not yet trading, Start-ups (1-2 years trading), and Established
- Agriculture and food, Business and finance, Construction, Education, Health Hospitality and catering, IT, digital and creative, Manufacturing, Mining, Real estate and property, Science and technology, Service industries, Transport and distribution, Travel and leisure, Utilities providers, and Wholesale and retail
- Number of employees:
- 0 to 9 employees, 10 to 249 employees, 250 to 500 employees, and More than 500 employees
Provides the cash security required for performance and warranty bonds for any company in the North East.
How much you can get
£100,000 to £2,000,000
The limit is £4m to a business in any 36 month period.
Who it’s for
Your business must be based in north east England, including County Durham, Darlington, Gateshead, Hartlepool, Middlesbrough, Newcastle, North Tyneside, Northumberland, Redcar and Cleveland, Stockton on Tees, South Tyneside, Sunderland and parts of Hambleton, Richmondshire, Ryedale, and Scarborough.
Companies can apply more than once.
What you can get
The loan provides the cash security required for performance, warranty or advanced payment bonds, to provide access to large contracts.
How to apply
You’ll have a conversation or meeting to discuss the project. You must then send a business plan and details of the contract you’re bidding for.
You’ll be given a decision in principle within 1 to 2 weeks, and have a deal completed in 6 to 8 weeks.
Tees Valley Unlimited and FW Capital
Published: 20 March 2017
Industry: Agriculture and food Business and finance Construction Education Health Hospitality and catering IT, digital and creative Manufacturing Mining Real estate and property Science and technology Service industries Transport and distribution Travel and leisure Utilities providers Wholesale and retail