Local Communities & Enterprise Fund.
Are you looking to start up or grow your Warwickshire-based business? Do you need finance?
The Local Communities and Enterprise Fund (LCE) is specifically designed to support a range of SMEs, regardless of your trading status - micro businesses, smaller and medium businesses, start-ups, and social enterprises with loans between £1,000 up to £150,000.
What is LCE?
The LCE is a new finance strand from the Warwickshire Recovery Investment Fund; this is a 5-year Warwickshire County Council access to finance initiative. This aims to support the economic recovery and future growth of Warwickshire.
Over the five-year period 2021/22-2025/26, the council is planning to invest £140m into three funding streams to provide new and additional finance options for businesses looking to invest and grow in the county. For more information, visit www.warwickshire.gov.uk/wrif.
you must be trading or going to start trading in Warwickshire or you must be in the process of relocating to the Warwickshire region.
you must be a micro, small, medium sized business or a social enterprise.
Documents that we will need from you to support your loan application:
Cash flow forecast
Management and audited accounts (if applicable)
Sales pipeline (if applicable)
Evidence of contracts (if applicable)
Bank statements for the last 3 months
CV (if trading under 2 years)
To be eligible to apply for LCE Finance, then your business must be registered in Warwickshire, or you must be in the process of relocating to the Warwickshire region.
Representative example for an unsecured business loan of up to £40,000.
Total Cost of Loan:
Total Amount Repayable:
5% = £2,000 (added to loan)
Loans between £1,000 - £150,000
Interest Rate: 9.75% to 18.75% - the rate is based on the level of risk involved and the security available
Arrangement Fee: 5% of the loan amount, this can be added to the loan and repaid over
Minimum Term: 24 months
Maximum Term: 60 months
N.B. - Early repayment fees will apply
The Local Communities and Enterprise Fund is part of the Warwickshire County Council’s Warwickshire Recovery & Investment Fund
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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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