Stoke-on-Trent City Council and Staffordshire County Council have launched Scale Up Staffordshire, an interest-free loan scheme for small and medium-sized businesses across both areas.
The programme offers loans of up to £100,000 to eligible SMEs, with no interest charged. Businesses can use the funds to invest in site development, energy efficiency upgrades, equipment purchases and productivity-boosting improvements.
Who can apply
Eligible businesses must be SMEs based in Stoke-on-Trent or Staffordshire, or planning to relocate into either area. They must have been trading for three or more years and cannot receive public funding to operate.
The loan can fund up to 80 per cent of a capital investment, with a repayment period of two to four years and no administration fee.
Real-world example
Kazoo PSG Ltd, a Staffordshire-based company, successfully used the scheme to purchase a new UV LED Hybrid printer. Director Simon Talbot said the application process was straightforward and allowed the business to implement the project immediately rather than waiting 12 months for savings.
Talbot reported that the investment has improved service quality, shortened production times, enabled the business to win new clients and increase turnover. The company is also considering creating two new jobs.
Stoke-on-Trent City Council Leader Councillor Jane Ashworth said the scheme helps ambitious SMEs fund equipment upgrades and site development that boost capacity and productivity while reducing costs.
Staffordshire County Council Leader Martin Murray added that the scheme is designed to help businesses unlock their potential and improve productivity.
How to apply
Interested businesses can express their interest by emailing ScaleUp@Staffordshire.gov.uk. More details are available on the Scale Up Staffordshire website.