Dorset Local Enterprise Partnership (LEP) is seeking new project for its Growing Places Fund – a repayable loan scheme that encourages innovation, increased productivity, jobs and housing creation within Dorset.
Funded by central government, the £9.7 million loan scheme is designed to unlock capital projects which have a significant economic impact and can quickly deliver tangible economic outcomes.
The Fund is used where businesses are unable to access alternative funding mechanisms for viable schemes. This will deliver economic growth and support Dorset LEP’s strategic objectives.
The Growing Places Fund still has money available to loan. We therefore invite private sector businesses and public sector organisations operating in Dorset to submit their projects to Growing Places Fund.
Jim Stewart, Chair Dorset LEP said: “Successful allocation of the Growing Places Fund has already been used to unblock much needed employment land in east, west and north Dorset. We are now encouraging small and medium-sized businesses to get in contact with Dorset LEP to see if they are eligible for a loan. “
A Dorset-based company that has already benefitted from the scheme is Field International Ltd, which provides world class Turnkey Design & Manufacturing solutions for the aerospace and defence industry. The company secured a £2,315,000 Growing Places loan which has safeguarded 50 jobs in Poole and allowed for the creation of a further 10 jobs including some apprenticeship positions.
Richard Marples, Global Business Development Director, Field International said: “The net result of getting the loan from the Dorset LEP is that it’s helped us grow our business, created opportunities as we leave the EU and at the same time provided advanced engineering jobs for Dorset.”
Businesses that are interested to learn more about the Fund or would like to speak to Dorset LEP to inquire whether their project may be eligible for this loan should