A Government-backed loan scheme to assist transport and infrastructure projects has re-opened for applications through the Leicester and Leicestershire Enterprise Partnership (LLEP).
The LLEP’s £13.4 million ‘Growing Places Fund’ (GPF) has today (1st May) re-opened to developers, local authorities and businesses, to apply for short term loans to assist with projects such as new homes developments and the creation office and commercial development space.
This is the third time GPF loans have been available. Already through the first two rounds, nine projects received GPF finance, resulting in the creation of 1,379 new houses, 164,000 square metres of new office space and 850 jobs in the Leicester and Leicestershire area.
Projects such as the new residential and business park in Glenfield; the housing development at the old Velodrome site on Saffron Road and the new Formula E headquarters at Donington Park, have all benefited from the GPF loan scheme.
John Edmond, vice-chair of the LLEP said, “GPF allows infrastructure developments to go ahead, unlocking potential developments across the city and county and creating much needed jobs that will boost our economy. As a loan scheme, the money will be repaid over a period of time, so it can be re-invested in future schemes.
“The LLEP is keen to ensure that the GPF is allocated in the best possible way and a stringent due diligence process takes place to guarantee that this happens.”
The closing date for applications is Friday 13th June 2014 (12.00 noon). A Prospectus and Expression of Interest form are both available on the LLEP website at http://www.llep.org.uk/GPFloan
