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Other Financial Assistance
Various other forms of financial assistance are available in the Portsmouth area, including business loans and matched funding.
Portsmouth Small Business Loan is provided by Portsmouth City Council to businesses in the Portsmouth local authority area with less than 50 employees and a turnover not exceeding 10m Euros. A loan of up to £10,000 in matched funds is available.
South Coast Moneyline provides funding for start-up and existing businesses who are unable to access funding from high street banks, or in situations where a relatively small amount of funding are required for a business start-up. Up to £5000 is available and higher amounts may be considered on an exceptional basis.
The Creative Industries Business Loan Scheme is offered by Cibas, in partnership with South Coast Money Line for individuals and small businesses within the creative and cultural industries. A maximum of £2,500 may be applied for over a 12 month period with the first £1,000 completely interest free.
Innovation Voucher Scheme offers voucher worth up to £4000 to small and medium-sized enterprises in creative industries and in other sectors where they could benefit from creative assistance and access to Portsmouth University facilities and expertise. The vouchers effectively ‘buy’ university support and uses could include technical validation of a technology, development of a prototype or consultancy from experts or specialists. The SME will be expected to provide a contribution to the overall work to be carried out.
Matched Funding for Manufacturing Improvement Programmes The Manufacturing Advisory Service offers up to £1,250 of matched funding towards specialist services to support businesses. The funds must be used to assist programmes of work which include some form of third party external specialist support, bringing additional knowledge or skills to manufacturing enterprises.
