SWLEP launches next round of business loan scheme

By Ben Carey on May 05, 2019

Swindon and Wiltshire Local Enterprise Partnership (SWLEP) has recently launched another round of loan funding to support businesses in the region.

The Growing Places Infrastructure Fund (GPIF) loan programme is inviting applications for loans of between £150,000 and £1m in support of capital projects that help stimulate innovation, enterprise, growth or productivity.

GPIF is a revolving loan fund offering negotiable terms for repayment and a straightforward two-stage application process.

The deadline for applications is 5pm on Tuesday 7th May 2019 and projects are expected to be initiated this year with the loan repaid by December 2023. Further details can be found on the SWLEP website.

Earlier this year, Recycling Technologies Ltd was awarded a £1m GPIF loan to help speed up the production of new machinery as well as stimulate innovation, growth and productivity gains.

Ravish Jain, Commercial Director of Recycling Technologies, said, “Recycling Technologies is an example of the latest innovation at the heart of Swindon and Wiltshire’s economy supported by the GPIF. The Swindon and Wiltshire Local Enterprise Partnership is committed to supporting job creation in our area and being world-renowned for innovation, low carbon technology and quality of life.

“SWLEP’s support of our business, as we commercialise our technology, has been critical to our aim of installing additional and urgently needed new waste plastic recycling capacity, not only in the UK but globally. 

“The GPIF loan has been designed to support early-stage companies, therefore I urge our region’s entrepreneurs to apply and help shape the region’s future infrastructure needs. SWLEP support extends far beyond the funding and we have been grateful for the networks we have reached and its support of our business in communications.”

For further details about the programme please email Phil Clement, Head of Investment and Export Phil.Clement@swlep.co.uk.