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

12 August 2016

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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? Velocity Growth Hub is pleased to announce the return of its popular capital grants programme, which is now open for applications from businesses in 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. The amount you will be awarded is based on a grant of £5,000 for each full-time job that is created by the project. The grant is being provided by SEMLEP for a project that is part-funded by the European Regional Development Fund.

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

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, I urge you to take advantage of the grant”.

Your grant application will be assessed within four weeks of being submitted to Velocity 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.

Under a previous grant scheme, Cumberland Platforms of Kettering received a Grant for £30,000 to put towards their purchase of an overhead crane.

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SEMLEP
European Union
Regional Growth Fund
Department for Business, Energy & Industrial Strategy