Low-cost business loans
Sharing the Success, the Leeds LEGI programme, is working with Leeds City Credit Union and Business Enterprise Fund to provide low-cost business loans to people who are unable to access high street lending.
Leeds City Credit Union has set up a £200,000 loan fund to provide access to finance exclusively for start up businesses in disadvantaged areas of Leeds. Loans of up to £5,000 are offered to help people finance the initial stages of their business.
In addition to this Business Enterprise Fund offer loans ranging from £5,000 to £60,000 and provide mentoring support for all their customers to help guide new business through the various processes of start up and expansion.
Business growth fund
The Sharing the Success programme has also developed a business growth fund offering grant assistance for capital purchases to enable job creation. Business in the Sharing the Success areas that have been established longer than six months are eligible to apply for this grant.
A wide variety of grants and loans are also currently available from Yorkshire Forward, Manufacturing Advisory Service and the Sharing the Success programme.