Nottingham Business
Finance Programmes
Lewis Stringer - Business Finance Manager
Mike Durban - Business Finance Officer
Background
• Nottingham Growth Plan launched in July 2012
• Plan includes 40 projects under three main themes:
- Fostering enterprise
- Developing a skilled workforce
- Building a 21st century infrastructure
• Transformational Finance Programme:
- Nottingham Technology Grant Fund (N’Tech)
- Nottingham Investment Fund
- Creative Quarter (CQ) Loan Fund
- Creative Quarter New Business Rates Relief
Scheme
N’Tech: Overview
• £10m grant fund provided through the Regional Growth
Fund
• Aimed at supporting business growth and job creation
• Targeted at three key growth sectors:
- Digital content (e.g. computer games, film, television, music,
publishing, social media)
- Life sciences (e.g. biotechnology, medical devices,
biochemistry)
- Clean technologies (e.g. recycling, renewable energy, energy
saving devices and services)
N’Tech: Funding
• Minimum grant £20,000
• Maximum grant £1m
• Funding available for:
- Commercialisation of intellectual property (IP) (e.g.
exploitation of new business ideas)
- Development of new technologies (e.g. new business
products and processes)
- Investment in capital infrastructure (e.g. purchase of new
equipment)
N’Tech: Essential Criteria
• Applicants must be small or medium-size enterprises
(SMEs) or large enterprises in Assisted Areas
• Projects must take place within the Nottingham Core City
area (Nottingham City, Broxtowe, Gedling, Rushcliffe and
Hucknall)
• Projects must create or safeguard jobs
• Projects must lever in private sector investment
• Projects must be State Aid compliant
• Funding must be spent and claimed by 31 March 2015
N’Tech: Application Process
• Open to applications from 1 April 2013 to 30 September
2014
• Rolling two-stage application process:
- Expression of interest and eligibility assessment
- Full application and appraisal
• Final decision on funding made by monthly Investment
Panel
• Contact Lewis Stringer at Nottingham City Council
• Telephone: 0115 876 4483
• Web: www.nottinghamcity.gov.uk/ntech
Investment Fund: Overview
• £40m investment fund provided through Capital for
Enterprise, Nottinghamshire Pension Fund and private
investors
• Managed by Foresight Group
• Focused on supporting high growth businesses that will
deliver a commercial return for investors
• Will operate over a ten year lifespan with five years to
invest and a five year realisation period
• Launch date 19 November 2013
Investment Fund: Funding
• Minimum investment £100,000
• Maximum investment £2m
• Flexible investment structuring including equity and debt
• Broad range of transaction types including:
- Growth capital
- Asset finance
- Acquisition finance
Investment Fund: Essential Criteria
• Applicants must already operate in Nottinghamshire or be
looking to expand or relocate into Nottinghamshire
• Fund will look for experienced management teams,
attractive market characteristics and a defensible
competitive advantage
• Fund will have a generalist mandate investing across
most business sectors
• Fund will only invest in opportunities where there is a
realistic prospect of good commercial returns and a
credible route to exit within five years
Investment Fund: Application Process
• Contact Foresight Group to arrange a meeting, submit a
business plan or request further information
• Telephone: 0115 727 0650
• Web: www.foresightgroup.eu/nottingham
• Foresight management team:
- Russell Healey
- Tom Thorp
- Darrel Connell
- Henry Alty
- Seb Saywood
CQ Loan Fund: Overview
• £1m loan fund provided through Nottingham City Council
• Managed by First Enterprise Business Agency
• Loans can be used to:
- Secure services
- Purchase equipment
- Meet shortfalls in funding for specific projects
• Open to new start or existing businesses
CQ Loan Fund: Funding
• Minimum loan £500
• Maximum loan £25,000
• Loans repaid over a period of one and five years
• Interest charged at preferential rates
• Applicants must be located in, or intending to relocate to,
the Creative Quarter (Lace Market, Hockley, Sneinton
Market and Island Site)
CQ Loan Fund: Application Process
• Single application form supported by business plan and
financial information
• Contact Neil Millington at First Enterprise Business
Agency
• Telephone: 0115 942 3772
• Web: www.nottinghamcity.gov.uk/CQ-loan-fund
CQ New Business Rates Relief Scheme
• Pilot will extend national Small Business Rate Relief
Scheme for England within the Creative Quarter
• 100% rate relief offered to businesses in properties with a
rateable value of up to £18,000
• Rate relief offered for 12 months from the point of
application
• Businesses must have started trading in the financial
years ending 31 March 2013 or 31 March 2014 and be
located in, or intending to relocate to, the Creative
Quarter
• Contact Kathy McArdle at The Creative Quarter
Company
Further Information
Nottingham Technology Grant Fund
www.nottinghamcity.gov.uk/ntech
Nottingham Investment Fund
www.foresightgroup.eu/nottingham
Creative Quarter Loan Fund
www.nottinghamcity.gov.uk/cq-loan-fund