The Inspiras Loan Fund has been created to help support the implementation of innovative projects that will potentially have a significant impact on the economy of Devon, Cornwall, The Isles of Scilly and Somerset, particularly by the creation of new, high quality jobs or significant productivity improvements.
The Fund may also consider exceptional projects from a wider geographic area.
It is aimed at projects requiring funding in excess of £100,000 and will consider offering loans of between £100,000 and £250,000 to successful applicants.
The Inspiras Loan Fund will consider assisting any organisation in the private, public or voluntary sector to support the implementation of suitable projects by means of a short term loan for typically three years. The Fund is seeking to support projects of significant scale that require additional funding of more than £100,000 to be successful and is not able to provide assistance to smaller projects. See more on How the Fund Operates
Successful applicants are likely to be able to demonstrate some or all of the following attributes:
· creation of a significant number of new, quality jobs in a short timescale · significant productivity improvements . innovation · development of high levels skills in the workforce · creation of a positive environmental legacy · generation of an economic impact greater than the singular improvement of an applicant's core business activity