Tire giant Michelin is committed to supporting North Staffordshire businesses looking to grow and create new jobs.
The company, based in Campbell Road, Stoke, wants to help businesses achieve their expansion and employment ambitions through its Michelin Development business loan scheme.
Now in its 18th year, Michelin Development offers small and medium-sized businesses based in Stoke-on-Trent, Newcastle-under-Lyme and the Staffordshire Moorlands access to unsecured and subsidized loans, if they have the potential to create high quality loans, sustainable jobs.
The initiative offers funding of up to £50,000 for job-creating projects to companies that employ up to 250 people and are involved in manufacturing, engineering or business and enterprise services. Loans can generally be used to attract additional funds from other sources.
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Carol Hopkins, of Michelin Development in the UK, said: “Over the years we have supported a number of businesses that were looking to grow.
“We are committed to supporting the local economy in and around our Stoke-on-Trent site, and seeing businesses in the area thrive.
“These are challenging times, but there are new and existing businesses that are poised for growth and that’s where we can offer additional support that can help them reach their potential.
“We encourage entrepreneurs and high-growth businesses who want to invest in the future and create local jobs to get in touch and see if they qualify for the program.”
Michelin Development is supported by a Steering Committee which includes the Staffordshire Chambers of Commerce, NatWest Bank, the Staffordshire Business Innovation Center and Stoke-on-Trent City Council’s Economic Development Unit.
Companies requesting financial support must not have outstanding creditors or arrears and cannot use Michelin Development funds to repay other loans.
Local businesses that have benefited in the past include Mounsey Chartered Surveyors, Moorland Contract Cleaning, A2B Signs and Graphics and Planterra.
More details on the Michelin Development website.