Fund title: Creative England: support for digital SMEs
Focus of fund/fund aims:
Interest-free loans or equity for digital businesses, looking to grow and expand or launch a new product
Digital SMEs based in England (excluding Greater London) will be able to apply for an interest-free loan of £50,000 to £200,000 which is then repaid over a maximum of 3 years. Digital businesses can include digital media and web (e.g. creative software development, digital media, web design, digital content), games (e.g. gaming and app development), e-commerce and software solutions.
The loan must be matched 50:50 with other finance, sourced by the company. The scheme is aimed at established businesses only – start-up businesses are not eligible.
Digital SMEs are also able to apply for equity investment of £40,000 to £100,000 from Creative England. Companies should be looking to raise between £400,000 and £1m: Creative England will invest up to 20% of the total investment required.