If your business could do with a little extra cash to get your next project off the ground, the Let's Grow Scheme might be for you. The programme funds businesses that are embarking upon projects which will create or safeguard sustainable jobs in the North East.
The fund is lead by the BE-Group, and is part of the Regional Growth Fund programme. It aims to provide financial support for SMEs who are finding it difficult to obtain capital, whether this is due to the current financial market or the limited collateral.
The BE-Group consider grant requests for capital support and R&D projects, and is ideal for businesses which are attempting to expand. The Let's Grow Scheme gives priority to businesses in manufacturing or the service sector which go beyond providing a local service.
The proposed projects must have a minimum of £200,000 expenditure and fulfill all of the scheme's required criteria. The grant provided would be dependent on the project but could be up to £50,000, or 10-30% of the project's expenditure.
Applicants are required to complete an expression of interest form by 6th May for the penultimate competition, and a full application by 3rd June. The proposed project must be completed by 31st March 2017 to receive the grant.
To find out if you're eligible to receive funding, please visit the BE Group website.
