The £24m Tooling Funding Programme has been created to help toolmakers and component manufacturers fund the design, development and manufacture of tooling or the expansion of tooling capacity. It is open to manufacturing companies seeking a loan of £50,000 to £1m, although funding requests in excess of this will be considered by exception.
Key requirements for applicants:
1.That they have had difficulty in securing the required level of funding.
2.That the final manufacture of the tooling and components will be located in England.
3.That new jobs will be created and or safeguarded by the toolmaker and component manufacturer.
4.Supported by confirmed tooling order(s).