Overview

We offer loans for businesses to invest in capital projects, which means the funds can be used by companies to acquire or upgrade physical assets such as property, industrial buildings or equipment.

These loans are designed for projects that are ready to proceed but have been delayed, and now need support to kick-start the development.

The funding is available to support infrastructure projects that will help to accelerate economic growth, deliver new jobs, remove barriers to development and use resources more efficiently.

Am I eligible?

In order to receive funding:

•Your project must create permanent new jobs in the Leeds City Region.

•You must have private finance available: either your own, from a bank, or other commercial finance to invest alongside.

•For every £1 of LEP funding sought, you must be able to provide at least £3 of private sector investment.

To enable the fund to revolve, you must be able to repay the loan within five years. There is no closing date, however the round will close when fully allocated, so we advise applying as soon as possible.

Projects are more likely to succeed if they have a clear business plan, with all relevant planning permissions and legal consents in place, and any major issues and risks identified and managed.

Other requirements

If you have a ready to go project that requires a loan of over £1m, please contact the LEP on BusinessGrowth@the-lep.com to discuss alternative funding options.

To check if your project is eligible for a loan from the LEP, please complete the enquiry form by following the link in the “Contact Us” box on the left (see “How to Apply” on the LEP Loans home page).

The LEP Loans team will contact you to discuss the next steps.