Business investment in Coventry

Grants and loans

European Regional Development Fund logo

Grants

Grant funding for SME in Coventry and Warwickshire is now available and we are currently accepting expressions of interest.

Grants will be awarded to eligible projects on a first come first served basis.

If you are interested in finding out about what support is available to you, please email business@coventry.gov.uk with the following details:

  • Company Name
  • Contact Name
  • Email Address
  • Contact Number
  • Business Activity
  • Brief description of proposed investment  

A Business Development Advisor will be in touch to discuss your idea, provide advice and guidance and consider options available including your eligibility for funding under the current schemes. 

In order to receive financial support, you will need to show that you are creating new jobs by spending money on capital and revenue items such as:

  • Investing in new premises or expansion of existing premises
  • Investing in new equipment’ machinery and processes 
  • Investing in new energy efficient equipment to reduce carbon
  • Acquiring intellectual property
  • Consultancy for developing new to the market innovative products or services

We will work with you to consider your investment proposals and find the best scheme for you. So, if you are developing plans that lead to new jobs and/or increased business rates, we strongly recommend that you contact us so that we can guide you through the application process.

We will support you to complete a formal application for the right fund. Once received we will carry out a thorough economic assessment of each application, considering: 

  • Investment readiness - how quickly can the project proceed?
  • Value for money - in terms of public sector investment for each new job created
  • Fit - with CWLEP strategy and local priorities
  • Additionality - could the project happen in the absence of public sector investment?

All grants must be compliant with State Aid Rules. We will work with you to make sure these rules are met.

Grants are available from the following programmes:

Coventry and Warwickshire Business Support Programme

Coventry & Warwickshire businesses are encouraged to apply for the Investment Fund grant under the Business Support Programme funded through the European Regional Development Fund (ERDF). Applications for the Investment Fund are welcomed from all sectors except retail and are available to established and new start-up businesses needing financial assistance.

The Coventry and Warwickshire Business Support Programme assists Small Medium Enterprises (SME) with fewer than 250 employees. The fund supports SMEs looking to purchase capital assets such as machinery or equipment, hardware/software, refurbishment, or the purchase of new premises.

SME’s can benefit from up to 30% grant to cover the costs of the investment.

Coventry and Warwickshire Innovation Programme

The Coventry and Warwickshire Innovation Programme provides a range of support to SMEs who are developing innovative and new to the market products, services or technologies.

The programme can provide funding to support a range of expenditure that will help advance research and development activity.

Grants of £100k are available. SME’s can benefit from up to 30% grant for eligible* capital costs and 50% of eligible* revenue costs to cover the outlay of the investment.

*Eligible costs are broadly those incurred with an external supplier including the purchase of capital assets, market research, design work, prototype development and manufacturing, testing and acquiring intellectual property.

Coventry and Warwickshire Green Business Programme

The Coventry and Warwickshire Green Business Programme will help you to save money on your energy, water, waste and material bills and make the most of low carbon opportunities. Energy and resource efficiency grants up to 50k (with 40% intervention) are available to SMEs who are looking to save carbon by investing in LED Lighting, More Efficient Machinery, Insulation Renewable energy such as solar PV etc.

ESIF Technical Assistance

The Technical Assistance programme is part funded by European Structural and Investment Funds (ESIF) and provides support to prospective ESIF applicants and projects within Coventry & Warwickshire. It facilitates the development of a strong pipeline of projects for each Thematic Objective.

Loans

The Coventry and Warwickshire Reinvestment Trust (CWRT) is a "not for profit" specialist financial institution providing loan finance to individuals and businesses which are unable to obtain some or all of their finance from high street banks. They offer:

  • Start Up Loans of up to £25,000 supported by the government, and
  • Commercial loans from £1,000 to £75,000

For more information, please contact CWRT on +44 (0)24 7655 1777.

Support and advice

  • General enquiries and to establish if you may be eligible for assistance.
  • Business Rates Your business may be eligible for business rates relief.
  • Planning For planning and building regulations information.

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