£1m loan boost for businesses

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BUSINESSES looking to expand in Sedgemoor can now take advantage of a £1million funding boost which has just launched.

Sedgemoor District Council is behind the scheme, which will see it give out loans of between £50,000 and £350,000 to businesses which have been located in Sedgemoor for at least three years, or are looking to expand into the area.

The council says it will provide the loans at ‘competitive rates’ with ‘flexible terms’ to encourage investment into the district, for businesses within its seven ‘core growth sectors’. They include manufacturing, logistics and distribution, tourism, food and drink, energy, creative and digital and agritech.

A spokesman for the council said: “Through the loan scheme, the council is seeking to encourage businesses to build and invest in the local area, creating both new jobs for local residents as well as accelerating Sedgemoor’s recent economic performance.”

The closing date for expressions of interest is September 14, and more details can be found through the council website at www.sedgemoor.gov.uk


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