North Highland Regeneration Fund
Small businesses and young companies often find it difficult to raise money to fund growth. The North Highland Regeneration Fund (NHRF) has been established by the Nuclear Decommissioning Authority to provide loan funding complementing other existing sources of funding for small businesses. This initiative is designed to pump-prime both the start-up of new ventures and the growth of existing businesses as part of the drive to replace the jobs which will be lost in the Caithness & Sutherland area as the Dounreay nuclear plant is decommissioned.
The Fund can offer loans of between £5,000 and £50,000 to those based in the Dounreay travel to work area who are looking to start up or expand a business.
Full eligibility criteria and details of how to apply can be found on the North Highland Regeneration Fund website. In general, applicants must be able to demonstrate:
- That a funding gap exists
- The viability of the business
- Potential of the business for growth and employment
- Good practice
- Financial standing of the organisation
Caithness Chamber of Commerce acts as the managing agent for the Fund and can help those looking to apply to put together their application form, as well as the supporting evidence such as business plans and financial forecasts required. Contact our team today on 01847 890076 or by emailing firstname.lastname@example.org to find out more about how we can help.