Pioneering British entrepreneurs could be in for up to £25 million in funding following the launch of a unique, high profile national initiative by Bank of Scotland Corporate – the Entrepreneur Challenge. The Bank will be making the funding package available entirely free of interest and arrangement fees for a period of three years. For each of five regions across the UK, a sum of £5 million is being provided. One company in each region will succeed in obtaining the funding package. According to the bank, it will be used by the successful applicants to help turn exceptional business plans into profitable reality.

Bank of Scotland Corporate is inviting applications from established businesses who meet specific entry criteria. Applicants will be existing established companies with a turnover of at least £2 million per annum and at least two years’ sustained growth in sales, revenue or profit. The applicants must also be based in the UK and operating in a substantial UK or global market and driven by a highly motivated and able management team.