Get up to £5,000
This fund provides support for existing micro and small businesses, social enterprises or charities seeking to cope in or adapt to challenging trading conditions as a result of Covid-19, or those seeking to secure growth funding.
You need a crowdfunding project to apply for funding. Start or continue adding your project and, if eligible, you'll be prompted to apply.
The Solent LEP Fund may pledge up to 50% of your project target, up to a £5,000 maximum pledge (depending upon the size of the business) . Before completing your application for match-funding we ask that you read the accompanying guidance notes fully. Read here.Essential criteria
In order to apply under the Solent LEP Fund, every applicant must:
- Be located in the Solent area - view map here
- Qualify as a micro or small business (Social Enterprises, CIC and Charities engaged in economic activity are also eligible) as per the EU Definition available here.
- Be an existing business (freelance and self-employed will need to provide evidence that they have been operating for at least 12 months).
- Clearly explain how, with the help of LEP funding, their business will deliver direct economic benefit within the Solent area.
- Please also note that any costs incurred prior to the submission of an application are sunk costs and cannot be included in the total project costs.
- Incur any costs directly, and not via subsidiaries or related companies / organisations.
- Demonstrate through the application and supporting information that they have the resources, expertise and ability to carry out their proposals within the timescales.
- Achieve the first 25% of their crowdfund target (from a minimum of 10 supporters) to trigger the LEP funding pledge. Applicants must then go on to crowdfund the remaining amount to reach 100% of their crowdfund target to claim the LEP pledge.
- Pledges from the Solent LEP Fund will only be made where they are compatible with State Aid legislation. These funds are being offered as de minimis aid, and any businesses supported will need to confirm that they have not been in receipt of other de minimis aid that would result in their business exceeding the EU threshold of €200,000 over a rolling three-year period.