New funding for SMEs in Berkshire to support plans for growth

SMEs in Berkshire with high growth aspirations now have another source of funds to consider to help them deliver their plans. The Thames Valley Berkshire Funding Escalator has been established by Thames Valley Berkshire Local Enterprise Partnership with £7.25m available across three complementary Loan Schemes. The Funding Escalator is managed by The FSE Group.

The Funding Escalator aims to help businesses whose growth plans are being hampered by lack of funding. This might be because they have insufficient track record, require additional funds to complement existing loans, or need support beyond typical bank parameters.

Launched at the beginning of February, loans have already been approved for two businesses:

• A company that creates and publishes music for corporate and media clients, looking to expand its services in the UK and abroad, requiring additional staff to deliver its plans.

• A well established business that provides sophisticated video conferencing services, needing funding to secure IP and enhance its offering, to support rapid sales growth.

The Funding Escalator has three elements:

•  The TVB Commercialisation Loan Scheme, providing loans of £25k to £50k to early stage businesses that have generated some sales and require funds to invest in market development activities to establish market presence.
•  The TVB Expansion Loan Scheme, providing loans between £50k to £200k to established companies that have been trading for at least 12 months and generated sales of £250k+ pa. Finance will be required to invest in expansion and scaling up activities that will deliver substantial growth.
•  The TVB Growth Loan Scheme, providing loans of £50k to £150k, alongside matched equity investment, to high growth businesses with strong IP.

In each case businesses will need to demonstrate compelling commercial potential based on sustainable competitive advantage which will create job opportunities in the Berkshire region.

After completing a short pre-application, businesses that the Funding Escalator may be able to help will be invited to submit a full application and business plan. Ward Williams will be happy to discuss assisting companies to ensure their business plan provides the best chance of success.

The Pre-application form is available at http://www.thefsegroup.com/thames-valley-berkshire-funding-escalator together with details of the Loan Schemes.

The FSE Group provides growth finance to ambitious businesses. The organisation has a strong track record of achieving significant results through relatively small investments and currently has £30m of assets under management. An economic impact study found the companies that FSE invested in grew almost five times faster than the national average.

For more information, visit www.thefsegroup.com or email tvbfunding@thefsegroup.com