Effective marketing is crucial to business survival and growth. This scheme aim is to help new and existing businesses to develop and continue to invest in their marketing operations in order to expand and grow, take advantage of new marketing tools and remain competitive in light of increasing online active, changing technology and consumer trends.
The loans can pay for activity such as IT, software, marketing / PR collateral and new signage.
Eligibility
Both existing businesses and new businesses which are in Altrincham, Sale, Stretford & Urmston town centres will be considered (see maps of coverage areas). Eligible applicants will:
- can clearly demonstrate how this marketing will assist business growth or increase sales.
- offer value for money.
Trafford Council will have ultimate discretion in determining the types of business that are eligible for loan funding assistance. This will be assessed on a case by case basis.
Non-eligible business types include: payday loan companies; betting/gambling shops; charity shops; pawnbrokers; adult shops; pound shops; and temporary shops. A lease must be in place for the period of the loan.
An applicant / business will only be eligible to receive one individual award in any 12 month period.
Loan Amounts
We offer loans of between £1,000 and £5,000 to support new-start and existing businesses in developing and investing in their marketing collateral.
The scheme has a limited budget and applications will be considered on a ‘first come first served’ basis. Therefore loan funding may not be available to support all purposes.
Loan Term
Unless otherwise agreed, repayments will be monthly in 24 monthly instalments.
Loan Interest Rates
The loan will be interest free, unless in the instance of default, where the rate of interest will be charged at 4% plus the Bank of England Base Rate.
Arrangement Fee
An administration fee of 5% will be added to the loan amount, which will be repaid first from the monthly repayments.
Repaying Your Loan Early
The outstanding loan amount can be repaid in full at any time without penalty.