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Capital grants now available

16 August 2016

Are you deliberating over whether or not to invest in new equipment? Would a grant of up to 25% of the total costs help to sway your decision?

SEMLEP's Velocity Growth Hub is pleased to announce the return of its popular capital grants programme, which is now open for applications from businesses across the South East Midlands.

The Maximum Velocity capital grant provides funding of between £5,000 and £50,000 up to a maximum of 25% of eligible expenditure, for small to medium-sized enterprises.

Gayle Pope, head of business services at SEMLEP, said “Maximum Velocity was instrumental in supporting the growth plans of local businesses last year and if you are considering capital investment now, we urge you to take advantage of this pot of funding."

The amount you will be awarded will be based on a grant of £5,000 for each full-time job that is created by the project. Grants are being provided by SEMLEP through its European Regional Development Fund programme.

When the grants scheme was last open in 2015 it part-funded a range of projects, including the purchase of ICT equipment, building refurbishment and fit-outs, vehicles, production and test equipment and CRM systems.

Grant applications will be assessed within four weeks of being submitted and funding will be provided retrospectively against evidence of payments for approved items. Purchases will need to conform to European Union procurement regulations.

To find out whether your business and your project is eligible for the funding and to get your application underway, please contact the Velocity Growth Hub on 0300 01234 35 or by email at enquiries@VelocityGrowthHub.com.

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