There are multiple types of funding available on our website, with schemes opening and closing throughout the year. In this section, we run through some common types of funding and what they're used for.
Cash grants: a cash grant is a payment given by the government or an institution to help fund a specific project or improvement. The biggest provider of cash grants are specific government departments, although other providers of grants include charitable trusts. Grants are often time limited and offered to implement government policy.
Government grants: government grants are often available for SMEs, with eligibility usually assessed based on the size of your company, your company’s location and what you require the grant for. Many of these grants are targeted at specific UK regions to boost local economies. These grants may match your own contribution to the business and reporting measures may be in place to ensure the money is well spent. Some government grants may also be earmarked for the public sector.
Soft loans: you may also consider soft loans, also known as soft financing or concessional funding. A soft loan is a loan with no interest or interest below the current market rate, which may offer more lenient terms of repayment with longer repayment schedules.
Business awards: business awards are another form of funding. Industry awards may help you scale your startup or, if you are more established than this, secure further capital to grow. As well as cash prizes, business awards also offer support and networking opportunities.