Escalator Fund cash for small businesses
January 15, 2013
Small and medium size businesses are being encouraged to take advantage of a £7.25 million fund to help them grow.
Thames Valley Berkshire Local Enterprise Partnership (LEP) has set up the cash pot to help boost growth in the local economy.
The Escalator Fund will be available to support newly-established companies and accelerate growth of established businesses.
Steve Lamb, chairman of TVB LEP, said: “The Escalator Fund is our response to the feedback from business across Thames Valley Berkshire during many months of consultation.
“It is designed to provide finance to a range of businesses looking for funding which is difficult to obtain from more traditional sources.
“Only businesses that are viewed to have the potential to deliver significant growth and employment opportunities for Thames Valley Berkshire will be considered.”
The fund, which will be managed by FSE Group community interest company, will be live from February 1.
Thames Valley LEP is using its £15m Growing Places Fund, allocated by the Government, for this initiative.
It has already committed £10.28m to schemes, including broadband initiative Sperfast Berkshire, a town centre regeneration scheme in Bracknell and revenue to support the Western Rail Access to Heathrow project.