The Growing Places Infrastructure Fund (GPIF) is a capital only fund of circa £8m used to invest in projects that create new jobs and deliver economic growth to the Swindon and Wiltshire area.
It is a repayable loan, with negotiable repayment terms, that helps accelerate the delivery of projects that stimulate innovation, enterprise, growth or productivity gains.
Loan payments are made in line with the development schedule drawn up in consultation with the Local Enterprise Partnership.
A funding round in 2018 led to loan offers of between £800,000 and £2m being made.
We are now seeking applications for loans of between £150,000 and £1m, for repayment by approximately the end of 2023.
Loans currently being processed include:
- contributions towards the building of an Innovation Centre
- the fitting out of a new production and r&d facility for a manufacturing plant dealing with recycled material.
Stage Two requires a more detailed business plan and an assessment of the financial status of the business, the security on offer against the loan and the level of risk involved. A final decision will be made by the SWLEP Board which meets approximately every two months.
Companies have to be compliant with EU ‘State Aid’ regulations. There will be an administration fee of £500 for successful applications.
For further details about the GPIF Programme, please email Phil Clement, Head of Investment & Export at the Swindon & Wiltshire Local Enterprise Partnership [email protected]
We would also be interested to hear from businesses that are seeking equity investment, for potential future application rounds.