Local Funding:
KC Invest
What is the KC Invest Fund?
It’s an investment fund of £300,000 that KC has made available to provide start-up and growth financing for businesses in the digital and technology sectors.
Who manages the KC Invest Fund?
Business support experts the Acorn Fund and Sirius manage the fund on KC’s behalf. They have extensive knowledge in supporting individuals to turn their business dreams into reality and have worked together across the region for many years.
What type of businesses are classed as being in the digital and technology sectors?
The type of business eligible for a KC Invest loan could be anything from one producing or selling a high tech product to a web-based retailer – any business where technology, or digital media is integral.
What are the other eligibility criteria?
Applicants can apply for funding to either help establish a business or to expand an already successful small business. The business needs to be based in Hull or the East Riding of Yorkshire.
What are the details of the loans available?
Loans of anywhere between £1,000 and £25,000 are available. The repayment period will typically be up to three years and the interest rate 14%, considerably lower than typical bank interest charges.
For more information go to the KC website
Posted 30th August