If you are an SME* located in Cornwall or the Isles of Scilly – the Cornwall and Isles of Scilly Investment Fund (CIOSIF) could provide the funding you need to help your business realise its potential.
CIOSIF is a collaboration between the British Business Bank and the Local Enterprise Partnerships (CIOS LEP) and provides commercially focussed finance to help SME’s start -up and grow.
CIOSIF combines £40 million of funding from the UK Government and the European Regional Development Fund to help businesses in the region to scale-up and become a successful part of the government’s Cornwall and Isles of Scilly vision.
We offer two different funding options designed to plug gaps in the provision of commercially available finance, ranging from £25,000 Loans to £2million Equity Investments.
Investment from CIOSIF-supported product funds is open to a wide range of sectors from early stage innovative businesses through to manufacturing and creative and digital industries. If you can demonstrate growth potential, your business may be eligible. **See below for exceptions
* An SME is a business employing fewer than 250 employees, with an annual turnover of less than 50m Euros or balance sheet net assets of less than 43m Euros. The business cannot be part of a larger group employing more than 249 employees and where the group owns at least a 25% share of the business.
** CIOSIF-sourced funding cannot be used to invest in businesses in the following sectors: property development, ship building and agriculture. In addition it cannot be used re-finance existing commercial borrowing or help failing businesses.
WHO CAN APPLY
To be eligible for funding from an CIOSIF-support product fund, an SME must have a material part of its operations, staffing or trading based in the CIOSIF area (or plan to establish such a presence within 2 years.
Eligible businesses may include:
Early stage companies
Fast-growing small businesses
Small businesses looking to relocate in the North of England
Businesses unable to source funding from banks or investors
CIOSIF’s appointed Fund Manager will be able to provide more detailed guidance on eligibility for funding.
WHY APPLY CIOSIF’s product funds can provide funding options that can boost your business needs, for example by:
The fund manager will contact you to see if your business qualifies
You make a formal application
The fund manager evaluates your application and makes the investment decision
If you or your client is based in the north please visit www.npif.co.uk for finance options or www.meif.co.uk for midlands based businesses.
Find Out More
If you would like to meet with CIOSIF's appointed Fund Manager to talk in more detail please go to Funds Available to find the Fund Manager operating in your area