The rail industry in the UK is growing rapidly and together with the large scale investments into the rail industry this is already providing significant commercial opportunities for ambitions existing or new suppliers to the rail supply sector.
A strong rail supply sector is critical for the government’s plans for a modern rail system. Whether it be for high speed, conventional, freight, metro or light rail, it is essential to unlock economic growth, create and maintain jobs as well as connecting communities. Delivering such a world class railway will require a developing, innovative and responsive UK based rail supply sector.
To help, Finance Birmingham manages the £20m Rail Supply Growth Fund initiative, supported by the Department of Business, Energy and Industrial Strategy (BEIS). The Fund provides access to affordable finance to increase the capability, competitiveness and productivity of businesses either currently operating in the rail supply sector or for businesses aiming to enter it through crossover products and services.
The Fund is a flexible loan based facility, however, there is a potential contribution of up to 10% of the application value as grant support if a business can clearly demonstrate the relevance and viability of potential rail crossover products and services and how this financial contribution would enable the applicant to enhance its participation within the rail supply sector.
Applicants wishing to apply should first read the “Application Guidance Notes”, which can be downloaded from the link below. They can then contact one of the Rail team on 0121 233 4903 for an initial exploratory discussion.
Rail Supply Growth Fund Expression of Interest Form (EOI).doc
Once an EOI form has been submitted, a member of the Finance Birmingham will review the information and will provide you with feedback regarding the next steps of the application process.
Rail Supply Growth Fund Application Form.doc
For more information about the Rail Supply Growth Fund or to enquire about the application process call our helpline on 0121 233 4917 or email Enquiry@FinanceBirmingham.com