Manchester-based Inc & Co Capital Ltd, a sister company of Inc & Co, is launching low-interest small business loans for start-ups and agencies in and around the Greater Manchester area.
With millions of workers expecting to be “furloughed” because of the current COVID-19 lockdown and small businesses experiencing difficulties accessing the funds and grants available to them, the low-interest loan scheme from Inc & Co Capital is designed to remove the hassle and financial uncertainty.
Business loans up to £20,000 will be available with no admin or set up fees and paid into their bank account within a matter of days. The low-interest scheme will help retain high-quality staff as well as providing a fast and affordable way of covering business overheads. The loans are available to digital and creative businesses, in and around the Greater Manchester area. Inc & Co Capital aims to provide financial support where it’s needed and fast.
Jack Mason, Group CEO at Inc & Co, says, “It’s important to protect these types of businesses as it’s where some of the best innovation comes from. We created Inc & Co to support businesses succeed and it’s more important now than ever before that we continue to do this.”
“We don’t want any business to be left in the dark, which is why we’re offering our financial support to start-ups, tech and creative businesses in and around the Greater Manchester area.”
“It’s simple to apply, just fill in a form on our website, and we’ll take it from there. We’re aiming to get back to everyone within a couple of days, so we should be able to start helping businesses straight away.”
The government-funded Coronavirus Interruption Loan Scheme is rejecting an increasing number of applications, which means that some small businesses are looking at facing imminent financial difficulties.
On the 20th March 2020, the government launched the Coronavirus Job Retention Scheme, where the government will cover workers’ wages, up to £2500 a month, if they are put on leave. This scheme doesn’t cover other business overheads that are needed to run a successful business.