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Funding news - 05/01/2018

£10 Million Capital Grant Pot Launched for Leicestershire Businesses

The Leicester and Leicestershire Enterprise Partnership (LLEP) has launched a grant scheme to support capital projects across the region.

Leicester and Leicestershire's local authorities are currently working together to pool business rates and the Leicester and Leicestershire Enterprise Partnership (LLEP) has now been granted up to £10 million to support projects driving productivity and helping to grow the local economy.

The LLEP is inviting applications for three types of activity:

  • Project Development Fund – supporting the feasibility and costs for development of the business case for proposed larger capital projects.
  • Project Revenue Fund – supporting small-scale operational activity to drive economic growth within Leicester and Leicestershire.
  • Capital Fund – supporting the costs of capital projects.

The maximum grant amount per project is £100,000 with the Project Development and Project Revenue Funds.  The Capital Fund welcomes projects looking for around £500,000 and will consider larger projects where a clear need is demonstrated.

The target ratio for funding is 1:4 (25% grant, 75% match funding from other sources).

Nick Pulley, LLEP Chair said:

"The LLEP wants to support ambitious capital projects that contribute to the delivery and aims of our Strategic Economic Plan and fit with local priorities.

"We welcome applications that demonstrate the need for public sector intervention and can show how our support will achieve additionality and add to the economic impact of the project."

The closing date for Expressions of Interest is Sunday 4 February 2018.

Source: llep.org.uk, 05/01/2018

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