Grants to grow your business

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Grants to grow your business
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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)

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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

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Eligibility

• 10,000 gt 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

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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

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