Lancashire Growing Places Fund
The Growing Places Fund lends money to companies that need funding for local property schemes, infrastructure projects, and other inward investment activities.
Who it’s for
Typically, these are developments where there is a funding gap in the project’s overall finance package which mainstream funders (such as banks) are reluctant or unable to fill.
All sectors are eligible but the Growing Places Fund (GPF) is most often used to help stalled or blocked property schemes (both residential and commercial) move forward.
It can also used to support other types of inward investment activity such as:
- R&D facilities
- enabling transport or infrastructure interventions
- high-value, mixed use projects
However, to be successful, applicants need to demonstrate how their development will bring wider economic and community benefits to the area.
It is restricted to properties in Lancashire but not restricted to size of company.
What you can get
Between £750,000 and £5 million, which is subject to an interest rate of 3% to 6% above the Bank of England’s base rate.
The GPF will lend up to 70% of the costs of a scheme and will take a first charge over the property. There are no early repayment fees and the borrower pays for our legal, monitoring surveyor and valuation fees.
Maximum employees
500+
Organiser
Lancashire County Council