£1m fund to support creative firms

CREATIVE businesses are being encouraged to seek interest free loans from a new £1m funding pot.

Supported by the Government’s Regional Growth Fund, Creative England’s £1m is available in the form of interest free loans of between £60,000 and £100,000.

It is open to SMEs who are looking to develop new software, applications and content for the following markets: games and interactive entertainment; business-to-business; feature film production; cross platform TV development; healthcare; feature film production; government services; E-Learning; and mobile applications.

Business minister Michael Fallon said: “Creative England’s new investment fund from the Regional Growth Fund is fantastic news for the creative industry. The funding will be vital for giving those SMEs in the sector better access to finance and maintaining the UK’s reputation for innovation and creative ideas.

“The Regional Growth Fund is helping to kick-start British business and is the Government’s commitment to encourage long-term employment, boost private sector growth and lead to a more balanced economy.”