We provide access to a variety of loans, grants and apprenticeship schemes to support local businesses.

This provides a range of opportunities for Medway businesses to meet their ambitions 

Medway’s financial guidance is for businesses of all sizes and sectors, from small scale start-ups and sole traders to small to medium enterprises (SMEs) 

Financial support for your business needs

We offer our own financial support schemes to Medway businesses through the Partners for Growth Scheme.

We support innovative Medway businesses by helping give them access to an innovation coach that can help with product development and intellectual property management.

The Kent and Medway Business Fund (KMBF) scheme has reopened.

We have launched two new loan schemes in response to the economic crisis caused by coronavirus (COVID-19). The schemes are available to help businesses to recover and return to growth.

Funding under these schemes are limited, and we are expecting to be oversubscribed. We encourage you to apply within the prescribed time frame under each of the loan schemes. After that period the pre-application will be taken down, and replaced with an expression of interest, until such time as further funds become available.

Only one application can be made to any of the KMBF schemes at a time. Additional applications will be rejected.

They are funded by recycled loan repayments from the former Regional Growth Fund schemes, Expansion East Kent, Tiger and Escalate.

There are three different loan products offered.

Kent and Medway Business Fund Loan

The KMBF offers 0% loans between £101,000 and £500,000.

The application is open to small and medium sized businesses (SME) in Kent and Medway. The loan is available to those in the eligible sectors, including start-ups.

It can help to develop new or expand existing products, services or processes. This in turn can lead to new jobs, deliver business growth and improve productivity.

Find out about the Business Fund Loan

Kent and Medway Business Fund - Recovery Loan

The KMBF Recovery Loan offers 0% loans between £50,000 and £100,000.

Applications closed on 14 August. You can submit an expression of interest.

Find out about the Recovery Loan

Kent and Medway Business Funds - Capital Growth Loan

The KMBF Capital Growth Loan offers 0% loans between £50,000 and £100,000.

The loan is available to those who have been trading for at least 3 years as of 31 December 2019 and who operate in eligible sectors.

Applications closed on 14 August. You can submit an expression of interest.

Find out about the Capital Growth Loan

The PFG start-up scheme is available to Medway residents who are thinking of setting up a business.

They offer:

  • free business planning workshops
  • one-to-one business advice
  • start-up grants of up to £1,000 for eligible businesses

The PFG interest free loan scheme is available to growing businesses that have at least two years of successful trading and less than 50 employees.

The scheme provides you with a business advisor that can help you prepare a business plan and guide you through the loan application.

To discuss your proposal please phone 01634 338 138, 01634 332 317 or email businessandskills@medway.gov.uk

The innovation coach is a business support service we offer at the Innovation Centre Medway.

Our Innovation Coach can help you:

  • develop new products
  • manage and generate intellectual property by putting you in touch with services that are more widely available through Innovate UK

If you’re interested, call 01634 825 318 or email S.D.G.Warran-Smith@greenwich.ac.uk

We work closely with Kent County Council (KCC) and the Kent Invicta Chamber of Commerce (KICC).

Together we provide Medway’s businesses with funding opportunities that are available across the region and the south east.

The Start Up Loans scheme has partnered with Kent Invicta Chamber of Commerce (KICC) to offer business advice and loans for start-up businesses in Kent.

The scheme supports loans up to £25,000 with a fixed annual interest rate of 6%.

More about start up loans

The Kent and Medway Business Fund (KMBF) offers 0% loans between £50,000 and £500,000 to small and medium sized businesses across the region.

More about the Kent and Medway Business Fund

The South East Business Boost (SEBB) programme offers grants between £1,000 and £1,300 to help grow small and medium sized business in Kent.

More about South East Business Boost grants

South East Creative, Cultural and Digital Support (SECCADS) offer match-funding grants between £1,000 and £20,000 that cover up to 35% of individual project costs.

The average grant size awarded are £1,000 to £3,000.

Find out more about SECCADS funding grants

Low Carbon Across the South East (LoCASE)

LoCASE is a project set up to help business adapt and tackle climate change.

LoCASE awards grants of up to £20,000 to small and medium sized businesses in the South East.

Find out more about LoCASE and grants

Solar Together Kent

Solar Together Kent is a group buying scheme to help you get solar panels at a competitive price.

The scheme is open to small businesses and community buildings for installations of less than 50 panels.

Find out more about the Solar Together scheme

The Kent Realising Electric Vans Scheme

As part of our desire to help the transition to cleaner, greener transport infrastructure, £1.5 million of Highways England funding has been secured to operate a two-year electric van scheme for businesses. The ‘Kent Realising Electric Vans Scheme’ is one action that we hope will help reduce emissions across the strategic road network by encouraging business fleets to switch to electric.

The scheme is planned to launch from September 2020 and will be available to any Kent and Medway business who would like to ‘try for free’ an electric van for up to two months.

Find out more about the Kent Realising Electric Vans Scheme.

Workplace Charging Scheme (WCS)

WCS is a government scheme that gives financial support towards buying and installing electric vehicle charge-points.

It is available to eligible businesses, charities or public sector organisations.

Find out more and apply for the Workplace Charging Scheme.

We can help businesses through the use of business rate reductions and relief.

This can help business owners in certain scenarios manage the costs of their business rates.

More about business rate relief

If you’re looking for more funding you can find all national funding schemes to find any more opportunities that might suit your business.

Contact us

You can keep up-to-date with our latest business news, events and advice by completing our business contact form.

For business support and advice email businessandskills@medway.gov.uk.

 

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