Michelin Development are proud to have supported a number of businesses across North Staffordshire to develop and expand their businesses.
As 2020 gets underway, many SMEs across Stoke-on-Trent, Newcastle-under-Lyme and Staffordshire Moorlands are already taking advantage of the support available through Michelin Development.
A Michelin Development loan can be used for a whole range of purposes, which could include purchase of capital equipment, process improvement, working capital and marketing, to name but a few. Successful applicants can apply for unsecured loans from £5,000 to £50,000 through Michelin’s associate bank at a subsidised interest rate.
Some SMEs may already be up to the unsecured limit that their main bank is willing to provide, and this is therefore an additional opportunity to lend. Interest is charged at base rate + 2% which makes this a very attractive scheme. While the fund is driven by the amount of employment being created, it can also be used as match funding towards grant funds as it still counts as private lending.
Michelin Development also offer business support, which is a fantastic opportunity for SMEs to benefit from the knowledge of a global company. Applicants can access free, independent advice from Michelin’s considerable in-house expertise. The areas covered can be tailored to your business needs and could include health & safety, sales and marketing training, or productivity. The support can be delivered to you in a variety of different ways including workshops with small groups of people or one-to-one sessions.
Businesses which are successful in applying for Michelin Development support could be given the opportunity to get involved with press releases, case studies and other PR activities, providing valuable publicity to you and your business as it grows.
Who is eligible?
- Businesses in the manufacturing, engineering or services sector (business to business), can use the funding to support the creation of jobs and are within Stoke-on-Trent, Newcastle-under-Lyme and Staffordshire Moorlands.
Be inspired by local success stories who have recently received funding via the scheme https://michelindevelopment.co.uk/celebrating-many-years-supporting-local-businesses/blog/
To find out if your business would be eligible for the loan, please call 0800 056 2007 or visit https://michelindevelopment.co.uk/