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Carmarthensnhire Lottery Loan

Start Ups; Diversification Projects;   As a Bridging Loan for Community Groups
Local Products; Cottage & Service Industries awaiting grant funding
 
Loan Details
Interest
No interest is charged

Administration Fee
£25 (non refundable) payable upon application submission. Further 1% charge of the loan amount payable on signed loan agreement

Term
To a maximum 3 years

Size
£1,000 - £5,000 or to a maximum of 25% of the eligible  project cost – whichever is the lesser (e.g. Total Project cost £20,000 of which£10,000 eligible for loan. Thus apply for loan of £2,500)

Repayment
Fixed payable on the first day monthly, by standing order, after a free period of up to a maximum of 6 months

Security
Where possible, appropriate security may be sought and/or personal guarantees at the cost to the applicant

Job Factor
Each case considered on own merits, priority normally given where at least one job created or safeguarded Eligibility
 Located within Carmarthenshire
 No more than 25 employees
 Community Group must be a voluntary/charity organisation, registered as a charity or a not for profit organisation, that benefits the residents of Carmarthenshire
 Eligible project costs are Capital, Marketing, Working Stock and Costs of Training. Ineligible project costs include Utility Costs, Rates, General Overheads and Salaries
 No more than 25% of the identified eligible costs (to a maximum loan of £5,000) can be provided.
 Cannot be used for refinancing
 Primary objectives of the Loan Fund and the Carmarthenshire Lottery Society must be met
 Projects competing in local market where there is likely to be no job safeguarded / net job creation will not be supported
 Any outstanding credit judgements will generally render the project ineligible.
 Membership of the Carmarthenshire Lottery required by applicants for loan duration (min 5 for Community Groups)
 Only one Carmarthenshire Lottery loan can be held at any one time

For more information : Phone 01267 221071

www.carmarthenshirelottery.co.uk

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More funding made available for local businesses 

Almost 2,000 grants of up to £5,000 are being made available in five counties - Carmarthenshire, Ceredigion, Swansea, Pembrokeshire and Neath Port Talbot.

It is supported by £8.9m European funding, and there are claims it could create about 1,000 new jobs.

It is the first local council-led project to win EU Convergence support, which replaces Objective One funding.

Launching the scheme at Llanelli's new Delta Lakes Enterprise Centre, Deputy First Minister Ieuan Wyn Jones said: "This is a £19m scheme - it's excellent news for you here in the south west.

"It is the first local authority-led scheme to be approved under the new Convergence programme and it is the first of many I expect to coming through the pipeline very shortly indeed.

"What it will enable you to do is support up to 2,000 businesses - some start-ups, but the majority perhaps existing businesses - so that they can have some capital support to enable them to move forward."

 Among those present at the launch were business people who had benefited from similar funding in the past.

Richard Thomas of Llanelli-based Atech Graphic Design said small grant funding had helped his company expand since starting-up in 2001.

"It has helped us purchase machinery which has allowed us to tender for certain contracts.

"One is to become Carmarthenshire Council's sign supplier and another is to manufacture the new Scarlets' Stadium signs."

Now employing seven people he said without the grants they would not have expanded on such a scale.

Mari Thomas, whose business specialises in designing and producing gold and silver jewellery, said a marketing grant had helped her exhibit internationally in cities including New York and Tokyo.

"It has made a fantastic difference to my business showing my products internationally.

"I don't think I would have been able to operate on an international stage so confidently without it."