Carmarthenshire County Council is committed to assisting the start up of new, as well as the development of existing, businesses within Carmarthenshire. This support includes the availability of a business loan to both existing and new businesses at concessional rates in the following business sectors:
Food Processing
Biotechnology/Life Science
Construction
Chemicals
Electronic Engineering/Engineering
Environmental Goods
Knowledge Based Industries
Manufacturing
High Performance Engineering/Auto
Media
Tourism
Non Food Primary Processing.
Applicants must satisfy the following conditions:
• Be a business located or to be located within Carmarthenshire
• Be a business that employs no more than 250 employees
Businesses are invited to submit applications for:
Business Start Up Loan -of up to £5,000 (new businesses can apply pre-start or up to 18 months after commencing trading). The loan will be no more than 50% of the eligible costs, linked to a maximum of £2,000 per job created. The maximum Loan is £5,000 per business. Minimum Loan amount is £1,000.It is expected that at least 25% of private sector funding is to be made available in support of the Loan application.
Business Development Loan for established businesses. The loan will be no more than 50% of the eligible project cost, with a maximum of £5,000/minimum £1,000. It is expected that at least 25% of private sector funding is to be made available in support of the Loan application. The Loan will be linked to jobs created /safeguarded and increased turnover.
Repayment
Loan can be repaid over a period of up to 36 months maximum
Interest Rate
Interest rate to be fixed at bank base rate in force at the time loan is made.
HOW TO APPLY
Business Start Ups
• Application form (must be submitted via a Business Adviser working on the Welsh Assembly Government New Business Start Programme in Carmarthenshire)
• 2 year business plan (to include 2 year Cashflow and Profit and Loss statements)
• Supporting information required e.g. bank statements, overdraft confirmation etc.
Existing businesses
• Application form, submitted via a Business Adviser providing support under the Welsh Assembly Government General Business Advisory Service programme
• Business plan (optional)
• Most recent trading accounts (2 years if possible)
• Supporting information required e.g. bank statements, overdraft confirmation etc
ELIGIBLE COSTS
Both loans will be available for:
• Revenue such as rent, wages and marketing
• Capital expenditure such as machinery, equipment, computers
• Secondhand items of eligible capital expenditure are deemed eligible for Loan assistance