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Are you a manufacturing, engineering or construction company, looking to expand but need loan funding to do so?

Michelin Development aims to contribute to the economic regeneration and long-term prosperity of the regions in which its sites are located.

Michelin has always been involved in supporting local communities, both socially through participation in local initiatives and in the form of economic development support. However, the launch of Michelin Development provides an opportunity to have a far greater impact on our ability to support the regeneration of the local business community and in particular the creation of quality sustainable jobs.

Working in conjunction with regional development agencies, local government and business support agencies, Michelin Development inn the UK aims to:

• Generate or safeguard sustainable quality employment within existing or new businesses
• Assist in the shaping and development of projects in conjunction with local business-support agencies
• Stimulate employment creation through attracting inward investment
• Encourage skills and entrepreneurship able to support the long-term future of the local region

ACCESS TO FINANCE

Successful applicants can receive access to:

• Unsecured loans from £5,000 to £50,000 through our associate bank
• At a subsidised interest rate
• Repayment period of 3 to 5 years

The funding is private so it can normally be used to ‘gear up’ public and other forms of loan funding.

A Michelin Development loan can be used for a whole range of projects which are linked to the creation of jobs.  This could include purchase of capital equipment, process improvement, working capital and marketing – to name but a few.

WHO CAN APPLY?

CREATION OF JOBS Support is available to viable projects that can demonstrate the potential to create quality, sustainable jobs.

VIABILITY Applications must be supported with a viable business plan together with relevant financial accounting information.

MARKET SECTOR AND GEOGRAPHICAL LOCATION Applications are invited from any new start up or existing small/medium sized businesses from the Manufacturing or Service Sector (business to business) who are located in or relocating to the Dundee and Angus area.

USES OF FUNDING A Michelin Development loan can be used for a whole range of projects which are linked to the creation of jobs. This could include purchase of capital equipment, process improvement, working capital and marketing, to name just a few.

Support is available to viable projects that can demonstrate the potential to create quality, sustainable jobs.

HELPING YOUR BUSINESS TO GROW

WE ARE WELL CONNECTED The power of Michelin Development is not just in its ability to provide funding and expertise but also in its ability to provide access to a large network of local business support. The Michelin steering committee which meets monthly to discuss applications includes the following locally respected associates who can help signpost applicants to further sources of advice and funding.

• Angus Council
• Business Gateway
• Dundee City Council
• Royal Bank of Scotland
• Scottish Enterprise

To find out how to apply, visit the website at https://michelindevelopment.co.uk/