Need advice? Call our experts free on
0800 090 1342
Council offers broadband firms financial incentives
Northamptonshire County Council will offer business loans in an effort to the area's fibre broadband coverage.Northamptonshire County Council is attempting to realise its dream of giving the region total fibre broadband coverage by offering prospective network operators financial incentives.
The council will offer publicly-funded business loans, which will give firms the boost they need to fund the startup of next-generation rollout projects.
Representatives have dubbed the scheme Superfast Northamptonshire Access to Finance. It is hoped the move will lead to the installation of the network needed to achieve the council's target of complete coverage by 2017.
Cabinet Member for Economic Growth and Strategic Infrastructure Andre Gonzalez De Savage explained that after communicating with local businesses, the initiative proved to be the best way forward.
He said: "This particular initiative would secure a return on county council investment over a period of time and in doing so make public sector funding work in a smarter way."
The councillor went on to explain that all firms would have to go through a stringent two-stage application process and all loans will be repayable with interest.