Successful applicants can receive access to finance:
- Unsecured loans from £5,000 through Michelin’s associate bank at a subsidised interest rate
- Repayment period of three to five years
As the funding is private, it can normally be used to ‘gear up’ public and other forms of loan funding.
A Michelin Development loan can be used for a whole range of projects which are linked to the creation of jobs.
This could include purchase of capital equipment, process improvement, working capital and marketing – to name but a few.
Note: in most cases, the applicant will be required to invest some of his or her own equity into the project.
Access to advice
Applicants can access free, independent advice from Michelin’s considerable in-house expertise. The areas covered can be tailored to your business’ needs and could include recruitment, health & safety, sales and marketing training, or productivity – to name but a few. The advice and expertise support can be delivered to you in a variety of different ways including workshops with small groups of people or one-to-one sessions.
The Michelin Development fund is promoted via traditional and online media. Businesses that are successful in applying for Michelin Development support could be given the opportunity to get involved with press releases, case studies and other PR activities, providing valuable publicity to you and your business.