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Grants to grow your business

Grants to grow your business. Summary. Successful bid to Regional Growth Fund round 4 for £10m. Confirmed as part of the Leicester & Leicestershire City Deal (signed March 2014) Key elements to the programme: Enterprising Leicester (Grants £1k - £25k : ERDF Scheme)

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Grants to grow your business

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  1. Grants to grow your business

  2. Summary • Successful bid to Regional Growth Fund round 4 for £10m. • Confirmed as part of the Leicester & Leicestershire City Deal (signed March 2014) • Key elements to the programme: • Enterprising Leicester (Grants £1k - £25k : ERDF Scheme) • Enterprising Leicestershire (Grants £5k - £25k) • RGF3 (Grants £25k - £150k) • RGF4 (Grants £150k - £1m) • Growth Hub (Business Support)

  3. Enterprising Leicestershire • For SMEs based in the County of Leicestershire or looking to move into the area • Grants to purchase capital equipment e.g. machinery, infrastructure improvement, building expansion • Business can apply for 33% of the total project cost • Commit to making private investment i.e. match every £1 of grant with £2 of private investment

  4. Eligibility • £10,000 => one job created/safeguarded • Trading business to business i.e. non-retail • Commit to project completion by 31/0315 • Retrospective funding is not eligible • Evidence of VfM, additional benefit

  5. Outline Process • EoI, Full Application, supporting evidence online • Initial Officer Assessment • Grants Panel consideration • Offer letter/sign-off • Grant paid on evidence of defrayal • Monitor defrayal and project outputs • Claw-back conditions included in the Grant Offer

  6. Contacts EoI online - www.llep.org.uk/rgf3 RGF Co-ordinator - 0116 454 2917

  7. Leicestershire Local Enterprise Fund • Leicestershire County Council investing up to £1m with Funding Circle (December 2013) • Online marketplace for business loans of between £5k and £1m (LLEF => 20% up to £25k) • Eligible firms must have a minimum turnover of £100,000 and trading for at least two years • Further details - www.fundingcircle.com or contact leicsloans@fundingcircle.com

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