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Offices and hot desks to rent at Globe House, Rochdale.

Business grants, loans and financial support

View grants, loans and other support available for businesses in Rochdale borough.

Coronavirus support for businesses

The government has created a support package to help businesses during the coronavirus outbreak.

Business Grant Scheme

In the March 2020 budget the government announced it would support businesses affected by the coronavirus by awarding grants.

To avoid delay you can download the form below to apply for the grant. We've also written out to businesses we think are eligible; you should receive this letter and form by Friday, 3 April 2020.

To apply for the grant immediately please:

  1. Complete the form below and return it to us with a copy of your most recent business rates bill. If you qualify for the grant and don’t provide all the information requested it will delay payment of your grant.
  2. Return the form to us by
    By email: business.grants@rochdale.gov.uk. (To help speed up payments, do not use this email address for any other correspondence. If you have any other questions please email business.rates@rochdale.gov.uk)
    By post: send to PO Box 490, Rochdale OL16 9AJ.
  3. We aim to respond to grants within 5 working days.
Download the Business Grant Scheme form in Word (46kb doc)

Download the Business Grant Scheme form in PDF (153kb pdf)

Please note: if you decide to send personal information back by email, you should be aware that this may not be secure.


Business Rates Holiday for 2020/21

If you qualify for the 12 month Business Rates Holiday we're currently working to update our systems. Once we have, we'll send you a letter to confirm you've no business rates to pay. In the meantime, you do not need to pay your next business rates bill.

If you're not sure whether your business qualifies for the Business Rates Holiday, please contact our business rates team on 01706 926170.


Other help included in the government's support package

The government's full coronavirus support package includes:

  • Self-employment Income Support
  • Help paying your employees' salaries
  • Statutory Sick Pay rebate
  • Access to grants and loans and more
View full coronavirus support information from the government

Financial help from The Business Growth Hub

​​​​​​​​​The Business Growth Hu​​​​b offers a range of services to help you access finance, prepare to present to investors, assess and manage your budget effectively and develop a financial strategy to support growth.​

Find out more about The Business Growth Hub services.


Finance services for start ups and established businesses​​

  • Business growth loans - we're working in partnership with GC Business Finance, part of Manchester Growth Company, to provide a range of business growth loans.
  • Business Finance Solutions: - Government backed finance products for you and your business.
  • Business finance and support find​​er: - GOV.UK guides your search to find business finance, including government grants and publicly-backed finance and loans.
  • ​LEADER Rural Development Fund - the programme offers grants to small and medium sized rural businesses for development in parts of Heywood, Norden and the border with Whitworth​.​
  • Financial support for new businesses - ​​​to help boost business and create more vibrant town centres in the Rochdale borough, we’re offering 2 big benefits to new independent retailers opening in selected empty units.
  • Innovation Voucher Scheme for Greater Manchester based for small and medium sized enterprises (SMEs) - enables eligible SMEs to apply for up to £5,000 matched funding (minimum £3,000) to access specialist facilities within research institutes to accelerate the development of innovative products and services. Collaborative partnerships can be developed with a Greater Manchester University or a recognised research organisation nominated by the applicant. Activities that can be funded include product testing; product design; research and development; knowledge transfer and consultancy.
  • Greater Manchester Social Investment - funding for social enterprises - offers affordable and accessible loan finance for small social enterprises, businesses with social impact and charities that trade. Organisations can apply for £10,000 - £50,000 of flexible unsecured finance to be repaid over 1-5 years. Each investment combines grants with loans to help smaller organisations, including very new organisations, that have potential to add more value to local communities and grow their social impact.
  • Gigabit Broadband Voucher Scheme - offers a voucher of up to £3,000 against the cost of upgrading your internet to a full fibre connection.

Finance services for established businesses

  • South Pennines LEADER - LEADER is now open for business and accepting new applications for funding. The programme offers grants to small and medium sized rural businesses for development in Littleborough, Milnrow and Whitworth​​​.

Greater Manchester Investment Fund

This is a fund managed by the Greater Manchester Combined Authority to encourage business growth and job creation in Greater Manchester.

Loans are available for eligible companies that are having difficulty accessing traditional forms of finance from the private sector. Loans will typically be for up to 5 years, with the commercial interest rates reflecting the risk profile of the business.

What's available?

Benefits include:

  • Flexible loans of £500,000 to £5 million.
  • No specific security requirements, although the level of security will impact on the interest rate.
  • No financial covenants attached to the loans; instead, information covenants to monitor outputs.

Investment criteria

Projects can qualify if:

  • They have been turned down by a bank or other lender but can sustain a level of debt repayment.
  • There is a funding gap - this means the business has secured some financing but needs additional debt support to proceed.
  • They demonstrate a clear link to jobs secured within Greater Manchester. The focus of the programme is on new job creation, but jobs safeguarded will also be considered.

Greater Manchester Housing Fund

 

The Greater Manchester Housing Fund represents a cornerstone of Greater Manchester's housing growth strategy, and specifically targets the ongoing constraints within the residential finance market, including the reduced risk appetite many lenders continue to exhibit and ceilings on the financial exposure they are prepared to accept.

This Housing Fund will initially provide loan development finance for private sector partners on a fully recoverable basis. It will be managed by the Greater Manchester  Combined Authority on behalf of the 10 councils in Greater Manchester. The Fund will be open to applications on an ongoing basis.

Contact

0161 359 3050

Phone: Monday-Friday 8.30am-5pm.

Business Growth Hub
Churchgate House
56 Oxford Street
Manchester M1 6EU ​​

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