Lancashire Support Spotlight: finance

To celebrate Business Finance Week, taking place across the UK from September 30 to October 9, Boost’s latest monthly Lancashire Support Spotlight shines a light on the Lancashire funding landscape.

Data from the British Business Bank’s Small Business Finance Markets 2024/25 report shows North West companies’ use of external finance grew eight per cent in the first half of 2024. Through the Boost website’s Support Directory, businesses can access over 70 different support programmes at any one time, including a range finance support.

Three sources of finance businesses can access directly through the Boost website are below:

Rosebud Finance

Who is it for?

Rosebud helps Lancashire businesses grow, develop, create jobs and achieve their goals. It is targeted at ambitious limited companies based in one of Lancashire Country Council’s 12 local authority areas who are looking for growth finance.

What will I gain?

Rosebud offers tailor-made finance packages allowing businesses to borrow £25k to £100k with interest rates up to 14%, for up to five years. The service includes a dedicated account manager, guidance for future growth as well as support to access wider business and finance support.

Rosebud also includes:

• Rosebud Business Growth: One-to-one guidance to help growing businesses map out a clear and personalised route to securing the finance they need.
• Rosebud Academy. expert-led education and insights to help business owners and decision-makers build confidence in their financial strategy. With sessions covering funding readiness, debt finance, red flag awareness and financial resilience, Rosebud Academy helps businesses make smarter, more informed decisions.

How can I find out more?

Visit the Rosebud page of the Boost website here.

Northern Powerhouse Investment Fund II

Who is it for?

The British Business Bank’s £660m Northern Powerhouse Investment Fund II (NPIF II) offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2 million and equity investment up to £5 million. The fund covers the whole of the North, including rural, coastal and urban areas.

What will I gain?

The fund is split into three funding strands, aimed at different sizes of business:

• NPIF II Smaller Loans: £25k – 100k for new and smaller businesses in Lancashire (managed in Lancashire by River Capital)
• NPIF II Debt Finance: £100k - £2m for smaller businesses in Lancashire with growth potential (managed in Lancashire by FW Capital)
• NPIF II equity finance: Up to £5m for companies with high-growth potential (managed in Lancashire by Praetura Ventures)

How can I find out more?

Visit the Northern Powerhouse Investment Fund II’s pages on the Boost website via the Support Directory.

Start Up Loans

Who is it for?

British Business Bank’s Start Up Loans are government-backed personal loans available to individuals looking to start or grow a business in the UK. They are designed for entrepreneurs with a brilliant idea but struggling to secure the financial support needed to turn it into reality.

Applicants must be starting a new business or have been trading for up to 36 months and unable to secure finance from a traditional bank.

What will I gain?

Start Up Loans, delivered in Lancashire by GC Business Finance, allows businesses to borrow up to £25k with a fixed interest rate of up to 6 per cent per year. GC Business Finance also offers additional support including a business planning toolkit to help businesses plan for their growth.

How can I find out more?

Visit the Start Up Loans page of the Boost website here.

Not sure which service suits your business best or not looking for finance but want to explore support to help you grow? Contact Boost’s Business Support Helpdesk here.