Regional Growth Funding

Greater Lincolnshire
Business Capital Growth
Ian Jones, Investment Readiness Advisor
Lincolnshire Chamber of Commerce
What is the Regional Growth Fund (RGF)?
• Department for Business, Innovation and Skills lead initiative for England
• Overall funding total of £3.2bn
• Released in phases between 2011 – 2017
• Lincolnshire Chamber successful in RGF Round 5
• Funding of £2m sought and won
The Greater Lincolnshire Business
Capital Growth Fund
• To provide gap funding for businesses who wish to expand or invest to
create sustainable jobs
• Funding available up to a maximum of 20% of overall project cost
• Remainder of project funding to be from private sector investment or
commercially available finance
• Aim to support creation of 234 new jobs and safeguard 63 existing jobs
• Applications open until December 2016, or until fund fully allocated
• Grants must be for a minimum of £10,000 and maximum of £250,000
• A project where spend HAS NOT already been incurred
Who is Eligible?
• Based in or relocating to Greater Lincolnshire
• Meet the definition of an SME
• Have a business plan to expand or invest which will create and/or
safeguard jobs
• Require the grant for capital expenditure on premises expansion, new
premises, plant, machinery and infrastructure and/or associated costs for
expansion, e.g. new technologies, systems and software, training etc.
• SME must show that funding required for the project to proceed and that
funding not available elsewhere
Who is Ineligible?
• General Block Exemption Regulations (GBER) apply
• Other ineligible sectors include;
Retail, tourism, passenger transport, warehousing, education, health
service, public sector, infrastructure, franchise operations, MOD
funded contracts, property development, energy generation and
primary agriculture
• However, all applications will be considered on their own merit.
Application process
• Initial enquiry
• Expression of Interest
• Proposal Development, including services of Investment
Readiness Advisor, if required
• Submission of Application Form and accompanying
• Investment Appraisal panel
Next Steps
• Official launch of fund at Chamber AGM, Friday 3rd October
• Contact details
• Ian Jones
• 07912 338535
• [email protected]
• Marie Pritchett
• 07803 179105
• [email protected]

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