Presentation on theme: "Grants to grow your business. Summary Successful bid to Regional Growth Fund round 4 for £10m. Confirmed as part of the Leicester & Leicestershire City."— Presentation transcript:
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: 1.Enterprising Leicester (Grants £1k - £25k : ERDF Scheme) 2.Enterprising Leicestershire (Grants £5k - £25k) 3.RGF3 (Grants £25k - £150k) 4.RGF4 (Grants £150k - £1m) 5.Growth Hub (Business Support)
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
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
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
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 email@example.com@fundingcircle.com
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