Launch of £7m plan to revive stalled projects

The Humber Local Enterprise Partnership Business Loan Fund, which comes from the Department for Communities and Local Government’s Growing Places Fund, will provide cash injections for projects that have stalled due to lack of investment finance. It will be allocated by the Humber Local Enterprise Partnership (LEP) investment board. The closing date for expressions of interest is November 23.

The fund is available to businesses with capital schemes based in the Humber region that can quickly generate sustainable employment. Priority will be given to projects that have planning permission and other funding in place, and to those that fit well with the Humber LEP’s key objectives, also to be launched tomorrow at the Humber LEP forum meeting.

The fund is expected to be allocated on a loan basis, with grants being offered only in exceptional cases.