Opportunity Investment Fund (Tottenham)
The Opportunity Investment Fund (OIF) is a £3.65m programme to enable investment in workspace and employment projects in Tottenham. The fund is jointly provided by Haringey Council and the GLA to help businesses to create or improve work space, purchase machinery or production equipment, generate new jobs and invest in training for existing staff in Tottenham. Loans are available for capital works including building refurbishment, equipment but not for revenue purposes such as salaries or to pay off other loans.
Who should apply?
The fund is open to both existing businesses and start-ups - particularly businesses that want to grow and create high quality employment with good opportunities for career progression.
What are the loan size and terms?
Loans are negotiable but typically £100k with competitive interest rates repayable over several years. Additional funding from other sources is desirable but not essential.
A full package of support
Alongside OIF funding there is a full package of support which businesses can access. Businesses that occupy new offices and workspaces can apply for 30% discount on their business rates, lasting three consecutive years. This could mean a saving of up to £5,000 per year. There are also strong traders groups that operate throughout the borough including the Tottenham Traders Partnership and Haringey Business Alliance where members can share experiences with other traders and promote their businesses. Business Support Advisers are also on hand to assist with applications and other business needs.
020 8489 2695