Is your business eligible for an Invest to Grow grant or loan?
The Invest to Grow programme, aimed at supporting private-sector businesses across the East Midlands, offers businesses providing grants and loans between £15,000 and £250,000.
This programme is a valuable resource for businesses looking to innovate, expand, and contribute to regional economic growth.
Key benefits of Invest to Grow
Since its inception, the Invest to Grow programme has had a positive impact on the East Midlands economy:
- £125 million of private sector funding injected into the region.
- 2600 jobs created or safeguarded.
- £31 million awarded to businesses, enabling growth and innovation.
Invest to Grow is funded by the repayment of loans from successful applicants, ensuring its long-term sustainability.
Eligibility criteria
To qualify, projects must meet several important criteria:
- Create or safeguard jobs that will be sustained for at least three years (five years for large businesses).
- Increase the scale, scope, or efficiency of the company.
- Improve company performance.
- Be unachievable within proposed timescales without Invest to Grow support.
Applicants must also demonstrate that other funding avenues have been explored and why Invest to Grow support is crucial.
Funding details and sector focus
The programme is open to small and medium-sized enterprises (SMEs), large enterprises, sole traders, and partnerships in the East Midlands.
While projects from various sectors, such as manufacturing, life sciences, and technology, are encouraged, the programme excludes retail, farm-based agriculture, and B2C-focused businesses.
Funding can support:
- Product development.
- Business premises upgrades.
- Machinery and equipment purchases.
- Innovation in products, processes, and systems.
The minimum project cost is £50,000, with a minimum award of £15,000 and a maximum of £250,000.
Application process
The application process involves two stages: an initial Expression of Interest (EOI) form followed by a full application.
Due diligence, including financial forecasts and match funding evidence, is required before contracts are issued.
Applicants must cover at least 80 per cent of project costs through private-sector funding.
From assessing eligibility to preparing strong applications and supporting due diligence, we ensure you make the most of opportunities like Invest to Grow.
If you would like to explore the opportunities that the Invest to Grow scheme could offer your business, contact us today for advice and assistance.