Grant Funding

Grants are subsidies and in some cases are not repayable, providing certain specific performance related criteria specified in the grant offer are met. In the world of business most of these criteria are focused on capital investment andor job creation or job protection.

In virtually all cases you have to spend the money on a project before you get any grant money back unless it is some form of subsidised loan or working capital facility to assist with growth.

The application process for grants is often time consuming and can take any where between 2 to 6 months to get a decision of approval, depending on the size of grant requested and the requirements of the individual funder.

Grants usually have a limited timescale for their being available and a maximum total ‘pot’ available. Grants are also often over subscribed.

Grant funders may also have specific terms and conditions to manage the project which the grant is part funding. This might include for example new financial procedures or systems.

Grants are fixed term and therefore always have an end date. If the project you are looking to fund is an ongoing activity, you need an exit strategy for the grant as to how your continuing activity is to be funded once the grant has expired.