Businesses in Derby and Derbyshire looking to expand can access a range of funding and support through The D2 Enterprise Growth Fund (D2EGF).
The D2 Enterprise Growth Fund is managed by Derby City Council and Derbyshire County Council to distribute loans and grants to businesses to help fund projects aiming to create jobs and business growth.
The Growth Fund can provide loans and grants to businesses to:
- Raise the minimum level of funding needed for a project to take place
- Provide maximum of 30% of the total project costs
- Provide a maximum of £10,000 per new full-time-equivalent job created
Businesses interested in applying can find out more by visiting the Council website.
D2EGF has recently recruited two new experts to provide further support for local businesses. Heading up the Growth Fund as Senior D2EGF Manager is Jo Hadson, whose background is in private banking, while appointed Monitoring Officer Jane Kirby brings with her a wealth of experience in coaching SME’s (small and medium-sized enterprises) through the grant and delivery process.
Derby City Council Deputy Leader and Cabinet Member for Regeneration and Economy, Councillor Martin Rawson said,
“We are proud to be managing and delivering the D2EGF scheme which is already making a huge difference to businesses in Derby and Derbyshire and is achieving fantastic results for the local economy.
“We’re delighted to welcome Jo and Jane to the team. Both bring very valuable skill sets which will be of great benefit in achieving fund objectives. I am delighted to see the fund helping to stimulate growth and create jobs locally.”
Money towards the Fund has also been provided by the European Regional Development Fund, the Regional Growth Fund and the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire (D2N2).
Derby City Council manages the Enterprise Growth Fund for Derby (DEGF) and Derbyshire (D2EGF).
The Derby Enterprise Growth Fund is a £20 million recirculating grant and loan finance scheme delivered by Derby City Council offering funding to Derby businesses and those that operate within the city’s travel to work area. The fund focuses on stimulating innovation, expansion and investment in enterprises with the key objective of creating jobs.
The Derby Enterprise Growth Fund can be used for a variety of purposes. This could involve innovation, research and development of products, processes and systems which will result in business and supply chain efficiency, resilience, growth and profitability.
The fund also promotes business expansion, providing loans and in some cases grants for enterprises with growth potential across all sectors, including social enterprises. Eligible expenditure includes support with costs of relocation from abroad, investment in development to enable additional overseas trade and capital equipment, site and building infrastructure, working capital, workforce development as well as help to become investment-ready.