A £10 million fund to support the growth ambitions of retailers, hoteliers, restaurateurs and other consumer facing businesses in West Sussex has been launched to help them raise capital to aid growth in the region.
Horsham based Emjay Consultancy Limited will be facilitating access to the fund to support businesses in a variety of sectors, including hospitality, salon and spa, restaurant and pub, garage, dental and independent retailers to provide an affordable alternative to bank lending.
As many small businesses continue to find it difficult to access finance from traditional sources, the fund will be available for small to medium sized businesses who have been trading for a minimum of nine months and who currently transact a minimum of £3,000 in credit/debit card sales per month.
Marc Jarrett, managing director of Emjay Consultancy, said: “SMEs and their advisers in West Sussex are in need of suitably-priced funding. We will work closely with our clients and their advisers in multiple sectors to raise awareness throughout these industries that there are other lending options such as Merchant Cash Advances out there.”
“We have a great opportunity to make a real difference to many sectors in West Sussex by helping SMEs with cash injections that can be used for any business expense, from renovations to acquisitions.”
A Merchant Cash Advance enables businesses to use future credit card sales to access the unsecured funding that they may need to invest in new equipment, stock, marketing, staff or expansion.
Business owners who accept credit and debit cards as a form of payment can qualify for £5,000 to £500,000 in 24 hours and can receive funds in five to ten days.
For more information, visit Emjay’s website or call Marc Jarrett on 07906 786505.