Are you thinking of starting a new business? Or perhaps your business is ready for growth?
If either is the case then Darlington Borough Council may be able to offer you support through the Falchion Fund Loan scheme.
The Falchion Fund is a ‘soft loan’ scheme dedicated to supporting new and existing businesses located in Darlington which employ up to 250 people.
Loans are funded 50/50 by HSBC Bank plc and British American Tobacco (BAT). All loan applications are subject to approval via a dedicated panel with representation from, Darlington Borough Council, HSBC Bank plc, Tees Valley Unlimited and Clive Owen and Co LLP.
All loan applicants will be subject to HSBC Bank plc formal lending assessment process, to ensure repayment ability.
Loans are intended to supplement a wider package of finance and in order to be approved businesses are required to provide evidence of matched funds.
Loans are intended to support the creation of new positions of employment and/or the safeguarding of existing posts; in addition to projects being able to add value to the local economy.
The Falchion Fund typically offers loans:
·To start up and existing businesses;
·Of not less than £3,000 up to a maximum of £10,000;
·Up to a five year term, and
·At a preferential rate of interest.
Further information about the scheme can be found at:
http://www.darlington.gov.uk/Business/advicesupport/Funding.htm
Or alternatively contact Shakeel Asghar on:
shakeel.asghar@darlington.gov.uk
or telephone 01325 388 682
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