Cover up to the first 18 months of your loan repayment using the grant!
Duplex Investment Fund.
Duplex Investment Fund is a new way to help finance capital investments by local businesses. It combines public sector grants and loans to give you financial flexibility and ensure that your project proceeds successfully.
The value of the grant can be almost as much as the total interest payable on the loan.
It is delivered by FCA accredited lending specialists CWRT on behalf of Coventry City Council, Warwickshire County Council.
How does it work?
You receive a loan to cover the full cost of your capital investment project on day one. Once you have obtained and paid for your capital item(s) you receive a grant which is up to 40% of the total cost.
Please note applications for Warwickshire based businesses are now closed. Fear not, we can still support your business! Please click here for more information on our
Local Community and Enterprise Fund.
Eligibility Criteria.
You must:
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Be trading in Coventry or Warwickshire.
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Be able to demonstrate a minimum of 2 years of profitable trading.
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Produce a sound business plan/forecast that demonstrates the need for a grant.
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Create jobs as a result of the investment.
Loan Conditions.
As part of our assessment, credit histories for all sole traders, partners or directors must be provided. This will include full credit reports, and 3 months personal and business bank statements
Other loan conditions may include:
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Personal/third party guarantees.
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Debentures.
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Charges on equipment or property.
Representative example of Duplex loan/grant.
Overall Project Cost:
Loan Amount:
Private Sector Investment:
Repayment Term:
Annual Interest Rate:
Arrangement Fee:
Repayments:
Grant:
The Overall Cost:
£100,000
£100,000
£20,000
60 months (57 monthly payments starting in fourth month following drawdown)
15.95% per annum
£6,500 (6.5% of the loan value)
£2,776.49
£40,000 (40% - received once capital item(s) are obtained)
£116,599.02
Key Information.
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Loans are usually between £30k - £150k
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Grant up to 40% of loan amount
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Interest rate 15.95%
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Arrangement fee 6.5%
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Loan term of 60 months with monthly repayments
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No early repayment in first 12 months, fees apply thereafter
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Grants will not be paid if loan repayments are in arrears
Duplex Investment Fund is part funded by CWRT, Coventry City Council, Warwickshire County Council and Midlands Engine.
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We are authorised and regulated by the Financial Conduct Authority (FCA), our Reference Number is 743876. Our company house number is 05188971.
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