Regional Growth Funding (RGF) available for industry investment
There is now a funding stream available to support SME investment in selected areas*. To qualify for support to purchase an asset, an SME must commit to either recruiting new employees or safeguarding jobs and have been unable to secure financing for the investment needed.
Up to 20% of the value of the investment (dependent on the size of the business) may be available to you in the form of a grant.
Could you be eligible?
- Have you been turned down for financing for this investment?
- Are you planning to purchase an asset but are unable to finance the necessary deposit?
- Are you unsure as to whether you could afford the monthly payment on the asset?
- Does your business operate in either the manufacturing or print sectors?
- Are you a small or medium sized business with fewer than 250 employees and turnover under £35 million?
- Through the proposed investment will you be creating additional jobs or safeguarding jobs which would otherwise have been lost?
Key Features & Benefits
- Monies take the form of a grant
- Approximately 12 months after your load starts, you will be required to get formal confirmation from your companys auditors that the commitment you made to either create or safeguard jobs has been fulfilled
- The investment will be financed on either a hire basis or lease basis
The level of available grant is based upon the following:
- Size of your business (if you are medium sized business, your maximum award is 10%)
- The amount of the investment
- Whether you could get funding for this purchase without RGF funds
- As the beneficiary, you have to commit to creating or retaining a number of FTE jobs based upon the amount of grant received. One job must be created or retained for every £15,000 of grant received, up to a maximum of £500,000
*Excludes London and the South East (the South East counties where RGF funds are not available are Berkshire, Buckinghamshire, East Sussex, Hampshire, Isle of Wight, Kent, Oxfordshire, Surrey & West Yorkshire).
If you’d like to know more, simply call Airflow on 01142 327 788 or email email@example.com.