Financial Business Loans

South West Investment Group (SWIG)
SWIG is a public-private sector partnership that helps businesses achieve their potential by making interest-free loans to ventures which may have difficulty raising capital from traditional sources. It gives priority to businesses in Marine Engineering, Renewable Energy, Food, Environmental & Earth Technology and Multimedia and Life Sciences.

SWIG has two funds specifically aimed at Cornwall-based businesses. To qualify, your business must serve markets outside Cornwall and be able to show it can't access sufficient traditional finance.

The Cornwall Business Enterprise Fund
This assists businesses with less than 5 employees and can lend up to 60% of project costs up to a maximum of £25,000. It can help with most capital costs, marketing, consultancy, cost of services and the purchase or adaptation of premises.

The Cornwall Business Growth Fund
This assists businesses employing between 5 and 250 people, and can lend up to 35% of project costs up to a maximum of £50,000. It can help with most capital costs, marketing, consultancy, cost of services and the purchase or adaptation of premises.

Finance Cornwall
Finance Cornwall is an active investor of both loans and venture capital into Cornish businesses. Commercial finance from £20,000 up to £1 million may be available for diverse projects including: financing growth, business acquisition, management buyouts and specific projects including buying your own premises. It normally forms part of an overall finance package which can include grants, your own cash or loans from traditional sources, amongst others. Its investors benefit from ongoing and part subsidised input from a business mentor or non executive director as an additional management resource selected specifically for your particular business.  

The South West Regional Venture Capital Fund
This government-sponsored fund helps SMEs access venture capital funding. Managed by Yorkshire Fund Managers Ltd, it invests amounts of between £50,000 and £500,000 in return for a minority equity stake in the business.

The Fund looks to make a commercial return on its investments, and works closely with the management of the business in order to ensure this.

How to apply
Full applications can sometimes be quite time consuming. To cut down the risk of wasted time and ensure the maximum chance of success we recommend that you put together a one page summary which briefly covers the following: company history, company structure, proposed project expenditure, current financial situation and plans/forecasts for the future including employment and growth.

We can then liaise with the funding bodies on your behalf to establish the next step.