If you are an established or growing business in the East Midlands, you may be interested in Invest to Grow, which offers grants and loans between £15,000 and £250,000.
The Invest to Grow programme provides financial support to private-sector businesses in the East Midlands.
The programme aims to foster innovation, business growth, and job creation in the region.
It is funded by the repayment of previous loans awarded to successful applicants.
Key Information
Grants and loans are available between £15,000 and £250,000 to support business growth and innovation.
Businesses must be located in the East Midlands, though some projects in Staffordshire and South Yorkshire may also qualify.
To be eligible, your projects must create or safeguard jobs, increase the scope or scale of business activity, and improve overall business performance.
The project must not have commenced before funding approval to qualify.
The application process
The application process begins with an Expression of Interest (EOI).
If successful, applicants will be invited to submit a full application, which is then reviewed by the Strategic Investment Panel.
If the panel grants approval, a due diligence check must be completed before funding is released.
Due to high demand, the entire process can take three to six months.
Criteria
Applicants must provide at least 70 per cent of the total project costs from private sources such as company funds, bank loans, or asset finance.
Jobs created through the programme must be sustainable for at least three years.
Only direct jobs within the applicant’s organisation are considered, and zero-hour contracts are not eligible.
For asset purchases, all assets must be retained for a minimum of three years (or five years for larger enterprises) and must be located within the East Midlands.
Loan funding is released once contracts are signed, while grant funding is reimbursed after eligible project costs have been paid and documented.
There is no arrangement fee for applying, but due diligence costs may apply before contracts are issued.
If applicants require legal amendments to standard contracts, they must cover any additional legal fees before funding is released.
Our thoughts on “Invest to Grow”
Whilst the funding opportunity is designed to stimulate economic growth in the East Midlands, ensuring that businesses expand, innovate, and generate sustainable employment, it’s important that it works for your specific situation.
It’s possible that taking a grant or loan may actually make growth harder to achieve or that you will be unable to take full advantage of the cash offered to you.
This is why it’s important you discuss this opportunity with an expert who can determine whether it suits your current operations and circumstances.
For help with this, please email grantfunding@mooret.co.uk or visit our contact page.