The programme aims to support Small and Medium-sized Enterprises (SMEs) that have been trading for three years or more. Funds can be used for investment in site development, energy efficiency upgrades, equipment purchases, and productivity-boosting improvements. The loan covers up to 80 per cent of a capital investment, with a payback period of two to four years and no administration fee.
Councillor Jane Ashworth, Leader of Stoke-on-Trent City Council, highlighted the importance of investment for growth. "An interest-free loan can purchase or upgrade equipment, develop a site or provide capital project improvements that help increase capacity, boost productivity and reduce costs," she stated. She added that the collaboration with Staffordshire County Council ensures support for the local economy as a whole.
Eligible businesses must be based in, or relocating to, Stoke-on-Trent or Staffordshire, be an SME trading for three or more years, and not currently receive public funding for operations.
Simon Talbot, Director of Kazoo PSG Ltd, a Staffordshire-based company, shared his positive experience. His company successfully secured a loan to invest in a new UV LED Hybrid Printer. "The loan application process was very smooth and no issues at all; the initial loan process call and advice along the way made it stress free," Talbot commented. He noted that without the loan, the project would have been delayed by 12 months, but now expects improved service quality, shorter production times, and increased turnover.
Martin Murray, Leader of Staffordshire County Council, praised Kazoo's success as an example of the programme's objectives. "Helping ambitious businesses invest in the equipment and technology they need to grow is what the Scale Up Staffordshire Loan Programme is designed to achieve," he said. Murray highlighted that Kazoo is already benefiting from increased production, reduced running costs, new contracts, and the potential creation of two new jobs. He encouraged other eligible businesses to explore the programme's support.
SMEs interested in the loan can express their interest by emailing ScaleUp@Staffordshire.gov.uk. Further details are available on the Stoke-on-Trent City Council website.
