The Lincolnshire Chamber of Commerce announced at its Annual General Meeting a new £2 million growth fund for local businesses.
The Greater Lincolnshire Business Capital Growth Fund was officially launched at the AGM on October 3 at Charlotte House Hotel in Lincoln.
The chamber reported positive response prior to the launch, with over 150 enquiries about funding since Lincolnshire Chamber of Commerce won its bid for the funding in April.
Grants ranging between £10,000 and £250,000 will be available to local businesses and inward investors who can demonstrate sound business growth investment proposals.
Proposals must also be linked to significant job creation and include property purchase, new machinery, software and training.
The project will run from October 2014 until December 2016.
Members who attended the AGM learned about their eligibility from chamber chief executive Simon Beardsley and funding advisor and keynote speaker Ian Jones.
Simon Beardsley, Chief Executive at the Lincolnshire Chamber of Commerce, said: “We have been listening hard to what our members and county businesses have been saying about the challenges they face accessing business finance.
“As a result of this, we are pleased to announce the launch of the Greater Lincolnshire Business Capital Growth Fund which will see Greater Lincolnshire companies grow and develop, in turn creating new jobs and supporting the local economy.”
Ian Jones, who joined the Lincolnshire Chamber of Commerce last week as the Investment Readiness Advisor for the growth fund, said: “I am excited to be involved in the Capital Growth Fund project where the £2 million will directly support local businesses grow and reach their full potential.
“Throughout my twenty years in corporate banking, I have always enjoyed helping businesses achieve their goals and that is exactly what the Greater Lincolnshire Business Capital Growth Fund will do.”
Anyone wishing to find out more about how to apply for the funding should contact [email protected], or 01522 523333.