e-Factor

Financial support for new and existing businesses

E-factor is part of a government funded programme designed to support enterprise and investment in North East Lincolnshire. This support is available for eligible start up businesses and those already trading.

So is this a grant?

E-factor is not a grant system. It is not about cash handouts. It is about working closely with individuals to assess their needs and what practical help and support can be given to help them grasp opportunities and make a difference to their lives.

Funding for specific situations is available as is expert practical support to help businesses get ready to apply for finance.

Available Finance

There are many ways e-factor can help start ups and businesses get the necessary financing they need.

1. Ensuring you are ‘investment ready'

The first ‘port of call' is the traditional investment routes, banks or grant providers such as Princes Trust. E-factor will help you identify your options and then prepare a Business Plan with cash flow projections and P&L. We can even help you with the meeting itself.

2. Providing loans

If you are unable to raise finance through the traditional methods, e-factor have a number of loan options including:

• New Start Loans - providing loans from £500 up to £20,000 to start up businesses
• Enterprise Support Loans - for new businesses that have 12 - 18 months trading under their belt. Loans available from £2,000 to £30,000
• Enterprise Growth Loans - once you have been trading successfully for 2 years and you need some capital investment this loan is available for a minimum of £10,000 up to a maximum of £50,000

3. Financial Support

There are some instances where discretionary funded support is available for individuals wishing to start a business and existing businesses.

In all instances loans and financial support is subject to an application and approval process.

If you think your business would benefit from e-factor's help securing funding, contact e-factor on 0800 952 0181, This e-mail address is being protected from spambots. You need JavaScript enabled to view it us direct or complete our online form.