BUSINESSES across the county could benefit from thousands of pounds in grants and loans, but time is running out to apply.

As part of the Government’s Regional Growth Fund, East Sussex County Council was awarded £4million to help create and safeguard private sector jobs and this is being managed and delivered through the East Sussex Invest programme.

Already £2.5million worth of grants and loans has been distributed, and small and medium enterprises have until January 2015 to apply for a share of the remaining £1.5million.

“The money given out so far will help create and safeguard nearly 400 jobs in the county over the next year,” said Cllr Rupert Simmons, East Sussex County Council lead member for economy.

“The grants and loans available can make a difference to a variety of businesses and it would be a real shame if those who could benefit missed out. I would encourage all business owners with plans to make a capital investment to get in touch”.

Since its launch last autumn, 61 businesses across the county have been approved for East Sussex Invest 3 funding. These have included companies manufacturing solar panels and refurbishing classic cars to an ironing service and tattoo parlour.

There are grants from £3,000 up to £160,000 available and loans of up to £250,000, depending on the level of job creation or safeguarding.  The funding must be for capital; equipment, building works, vehicles, marketing drives, software and a range of other one off costs.  A minimum of 50 per cent match funding is required.

Applications are administered by Locate East Sussex. To find out more about the funding available and how to apply call 01424 205085 or email enquiries@locateeastsussex.org.uk

Alternatively visit the Locate East Sussex website at www.locateeastsussex.org.uk

Money for East Sussex Invest 3 is part of the Government’s Regional Growth Fund. For more information on grants and loans available for local businesses, visit www.eastsussex.gov.uk/business