Hull business development fund

New Investment Fund for Small Businesses in Hull and East Yorkshire

A £600,000 fund has been launched to help new and expanding businesses in the digital and technology sectors based in Hull and East Yorkshire. The new KC Invest fund offers loans of between £1,000 and £25,000. Two local enterprise agencies, the Acorn Fund and Sirius, will each distribute £150,000 and will also administer the fund. The additional £300,000 will be provided by European Regional Development Fund (ERDF). The repayment period will typically be up to three years and the interest rate 14 per cent. Sean Royce, KC’s finance and commercial director, said the fund would give practical support to growing businesses and help boost the local economy: “We need new businesses more than ever to stimulate growth and help the country’s economic recovery.” Alan Gordon-Freeman, managing directo... »