Management of a Business Loan Fund.

Descriptions

Staffordshire County Council sought to appoint a provider to administer a Business Loan scheme. The funding will be provided by Staffordshire County Council and Stoke-on-Trent City Councils (1m GBP) and a similar amount has been be sourced via the ERDF (European Regional Development Fund). The provider will create, provide and promote a successful mechanism making loans of between 10,000 and 50,000 GBP to Small and Medium Enterprises (SMEs) within Staffordshire who have been unable to obtain loans from high street financial institutions.This is a Services Concession contract and as such, the County Council is publishing this notice voluntarily in order to ensure that adequate advertising of the opportunity.A Services Concession is defined as - a contract under which the service provider derives income from payments by the users of the service, rather than a payment by the contracting authority.The successful provider will undertake the services at its own expense. The County Council does not envisage paying the provider a fee for the provision of the services. The provider will be permitted to set interest rates for the loans and charge a facilitation fee to each successful loan applicant.