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Your Network of Opportunity

Recyclable Business Loan - New and existing businesses for property enhancement

Ebbw Vale Enterprise Zone Recyclable Business Loan

The above loan Scheme initiative is funded by Welsh Government through the Ebbw Vale Enterprise Zone Board and managed and administered by Blaenau Gwent CBC. The loan is aimed at new or existing businesses that are located in, or planning to locate in the Ebbw Vale Enterprise Zone areas of Blaenau Gwent.

Eligibility

• The loan is based for approved property enhancement project costs only up to a maximum of £10,000 interest free loan.

• The support is aimed at manufacturing businesses and businesses servicing the manufacturing sector located within the Enterprise Zone area of Blaenau Gwent. Other sectors that have the capacity to add value to the local economy may be considered. Businesses will need to demonstrate that a significant proportion of their activity is business to business. Sole traders, Partnerships, Limited Companies, Co-operatives, Limited Liability Partnerships are eligible to apply.

Ineligible expenditure includes: staff costs (including staff costs to attend exhibitions for delivery of the project); VAT, or any other taxes; hire purchase/lease purchases; repair, maintenance and decoration costs etc.; capital equipment such as machinery, contingency fees; costs that were committed or spent before the offer and acceptance; working capital costs such as rent, rates, admin, costs of works being carried out as a legal statutory requirement and legal/professional fees are also not eligible.

• The loan offer is towards reasonable eligible costs, normally up to a maximum of £10,000 loan.

• No expenditure should be incurred before loan approval, as the loan cannot be awarded retrospectively.

• Applications for funding will be assessed against criteria, which will include potential job creation, investment induced, equalities and return on investment.

• From receipt of completed application the loan decision should be reached within 4-6 weeks, this timescale should be considered when planning your project.

• The applicant must accept the terms and conditions of the loan by completing and retuning the Certificate of Acceptance.

• The Loan will not be offered or paid if the business is in arrears with any payment to Blaenau Gwent County Borough Council. Checks will be made as required, to be determined by your project officer.














Blaenau Gwent; home of the Ebbw Vale Enterprise Zone