The Tees Valley Catalyst Fund offers short-term debt investments from £100,000 to £2million to support businesses bidding for contracts.
The fund can provide businesses with short-term loans to finance contract-related bonds including:
- Performance bonds
- Warranty bonds
- Advance payment guarantees
Businesses can use these to help bid for new contracts, repaying once the contract is delivered or the warranty period has expired.
The loan is used as cash security and deposited with banks to enable the issue of an advance payment guarantee, performance and/or warranty bond.
