Kent and Medway Business Fund Small Business Boost

The Kent and Medway Business Fund (KMBF) Small Business Boost is now accepting pre-applications.

This scheme is funded by recycled loan payments from the former Regional Growth Fund schemes:

• Expansion East Kent
• TIGER
• Escalate.

About KMBF Small Business Boost

The KMBF Small Business Boost offers 0% interest loans between £26,000 and £99,000.

We welcome applications from small and medium-sized businesses (SME) in Kent and Medway, who are start-ups or in the early stages of growth.  Established businesses or those looking for a larger loan can apply for a KMBF Standard Loan.

A loan can help to develop new or expand existing products, services or processes. In turn, this can create jobs, drive growth, and improve productivity.

Terms of the loan

The loan terms are:

• A 10% administrative charge is applied on payment of funds.
• It must be between 20% to 30% match funded from private sources such as business reserves or bank loans
• You may be asked to provide security subject to a level of risk assessment, the recommendation of the Investment Advisory Board sub-group and at the discretion of the council.
• All eligible businesses can have a loan repayment period of 5 years or less.

Eligibility

You can apply for a loan if you:

• are a sole trader, partnership, limited company or a not-for-profit business
• are a start-up, business in the early stages of growth or a business with a good track record
• are based in, or looking to locate to Kent (including Medway)
• are seeking between £26,000 and £99,000
• are creating sustainable jobs
• may be protecting sustainable jobs
• currently have fewer than 250 employees
• are currently viable, not in difficulty and not subject to collections or collective insolvency proceedings
• are developing or expanding products, services, or processes that will lead to new jobs, deliver business growth and improve productivity
• can identify innovation within your project
• are able to provide between 20% to 30% match funding from private sources.

Who cannot apply

You cannot apply if your business is:

• a franchise
• an organisation engaged in political activity or lobbying at any level or activity of an exclusively religious nature.

Restrictions do apply to primary production and processing of agricultural products - read section 6 of our guidance for applicants below for further information.

Apply for a Small Business Boost

Before completing the pre-application form, we recommend that you read our guidance for applicants (PDF, 1.0 MB).

Complete the pre-application form

Pre-applications opened on November 21 2023 and will close when funds run out.

If you have any questions about your pre-application email kmbf@kent.gov.uk. For general, financial or premise advice visit our business support page.