KMBF NUE Commercial New Build Projects
The Kent and Medway Business Loan Fund (KMBF) is a scheme funded by recycled loan repayments from the former Regional Growth Fund (RGF) schemes (Expansion East Kent, TIGER and Escalate).
On the 11 September 2025, the Growth, Economic Development & Communities Cabinet Committee (GEDCC) agreed that up to £6m from the KMBF scheme be made available for No Use Empty (NUE) to administer short term secured loans to support specific NUE Commercial projects which would provide wider economic and employment opportunities across Kent and Medway.
NUE will use the allocation of up to £6m to provide short-term repayable interest-bearing loans secured as a first charge for a maximum of 3 years to support specific KMBF-NUE Commercial projects to deliver more business units/workspace.
The loans offered will be between £100,000 and £2,000,000 to small and medium sized businesses (SMEs, defined as those with fewer than 250 employees).
NUE funded a pilot project known as The Tridax Business Park at Honeywood Parkway, Whitfield, Dover creating 24 new business units which was completed at the end of December 2023. An interest bearing loan was provided an the project has been a great success. Demand has been such that the units could have been sold three times over compared to the total available for sale. This pilot has successfully led to the allocation of up to £6m being available for similar schemes.
CLEARED SITE: APRIL 2022 COMPLETED SITE: DECEMBER 2023
Summary of criteria (not exhaustive)
- The proposed development site must be unencumbered to allow KCC to secure a first charge on title(s).
- Planning Permission must be in place
- Royal Institute of Chartered Surveyors (RICS) valuation report required supported with detailed quotations
- Loans are interest bearing typically between 8-10% per annum and will be subject to conditions.
- An approved loan will be subject to staged drawdowns and works must be completed within an agreed timescale
- Maximum loan period 3 years
- Loan repaid on the agreed anniversary or on disposal of units, whichever is earlier.
- Future marketing of units either for sale or rent to include details of the main Kent & Medway Business Loan Fund which future occupiers may be able to apply for
- The KMBF NUE loan is not available to individuals.
How do I apply for a loan?
We would suggest that you download and read the loan guidance booklet, as this will give you important information on how the scheme works and what conditions you will have to meet to be eligible for a loan.
If you feel that you could benefit from a loan under this scheme or require further information or guidance, then please contact the NUE team at nouseempty.gov.uk to discuss.
Formal application packs will be issued following a discussion to ensure that your proposed project can be considered.
PLEASE NOTE THAT ALL LOANS ARE ADMINISTERED ON A FIRST-COME FIRST SERVED BASIS AND SUBJECT TO FUNDING BEING AVAILABLE. LOANS THAT ARE REPAID ARE RE-CYCLED TO THE MAIN KMBF FUND WHICH IS SEPARATE TO MAIN NUE FUNDING.