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LEP Funding

New Forest District is covered by two Local Enterprise Partnerships (LEPs):

EM3 Wood Processing Grant Programme

An individual capital grant of between £35,000 and £150,000 is available to businesses in the forestry sector.  

The type of funding offered is capital meaning finances can only be used to acquire or improve assets that will generate profit over the long-term, such as machinery or premises. The maximum grant that can be requested is 40% of the total project cost.

This programme is for start-ups, early-stage companies (1-2 years) and for established and growing small and medium sized businesses and social enterprises.

For more information on eligibility, applications, and deadlines click here

EM3 Funding Escalator

This funding escalator comprises of a £4 million Expansion Loan Scheme providing between £50,000 and £200,000 to established SMEs, and a £1.5 million Growth Fund providing between £50,000 and £175,000 as an equity investment to early stage SMEs, the latter of which must be at least equally matched.

Both the loan scheme and equity investment is only available to businesses with existing sales and customers.

For more information on eligibility, applications, and deadlines click here

Solent Innovation Fund

Companies and organisations with innovative investment proposals for new technologies, equipment, infrastructure, facilities or estates in the Solent LEP area can apply for between £250,000 to £5 million, to be given as either grants, loans, forward funding or equity funding.

Only capital funding is given and applicants must have at least 50% of the total project costs in place from local funding upon application.

For more information on eligibility, applications, and deadlines click here

Solent Growth Fund: Capital Investment Fund

Funding from £80,000 to £500,000 is available to start-up businesses with high-growth potential, businesses experiencing challenging trading conditions, and established businesses seeking to grow quickly. The former two can receive funding up to 40% of the total project cost, the latter 20%.

The financial support comes in the form of a grant, loan, forward funding or equity funding, and can only be used to support capital expenditure items.

For more information on eligibility, applications, and deadlines click here

Bridging the Gap: Armed Forces Fund

A capital grant between £5,000 and £75,000 is on offer to growing SMEs and new Start Ups linked to the Armed Forces Community.

The fund is promoted and run in collaboration with X-Forces, a social enterprise dedicated to supporting enterprise and new business in the Armed Forces community.

So far around £112,600 has been allocated from this fund to support SMEs in the New Forest Waterside area.

For more information on eligibility, applications, and deadlines click here

Solent Growth Fund: Small Business Programme

This fund differs from the above in that it offers financial assistance on a much smaller scale, and funding only comes in the form of grants.

Financial backing is offered to the same types of businesses as in the capital investment fund, but the amount available is from £10,000 to £75,000. The percentage of the total project costs funding can make up remains the same.

For more information on eligibility, applications, and deadlines click here

Marine & Maritime SME Growth Fund

Unlike other Solent LEP funding initiatives which are restricted to Totton and the Waterside in New Forest District this fund is available to businesses across the region.

A capital grant ranging from £5,000 to £75,000 can be applied for by either established SMEs or start-ups operating within the marine and maritime sector. For established SMEs, the fund can provide up to 20% of total project costs, start-ups 40%.

For more information on eligibility, applications, and deadlines click here

 

Updated: 27 Sep 2017
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