Stockport Council offers loans to SMEs

STOCKPORT Council is offering loans to small Stockport-based businesses that are less than three years old.

The ‘Stockport Small Business Loan’ scheme offers local firms loans of between £500 and £3,000 to help fund the costs associated with setting up or expanding their business.

The council said it already offers free workshops and advice through its Intensive Start-up Support Service (ISUS), which is funded by Stockport Council, North West Development Agency and the European Regional Development Fund.

However, the loans have been added to address funding needs faced by new firms. The loans are repaid over 24 months and firms can apply for a three-month payment holiday just after start-up.

Councillor Kevin Hogg, executive member for regeneration at Stockport Council, said: “Through the Stockport Intensive Start-up Scheme, we have already helped 126 businesses start up since the programme started in August 2009.

“The Stockport Small Business Loan scheme is the next step in supporting Stockport’s entrepreneurs, helping to create local jobs and give the economy a boost.”

For further information or to find out more about starting up a business, email econdev@stockport.gov.uk or call 0161 474 3737.

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