Assessment and Decision
On receipt of your application form and supporting documents, a key criteria check will take place to ensure that have the necessary information to assess your application. Providing you have supplied everything we need, your application will be fully assessed within one month of receipt.
Your application will be scored in order to ascertain whether it will be put forward to an Investment Decision Group. Final decisions on awarding a grant will be at the discretion of the Group. If your application is approved by the Investment Decision Group, due diligence will be carried out before any final approval is made.
If your application is successful you will be sent a grant offer letter detailing the amount of funding awarded; the total cost of the project; milestones to be achieved; and the total number of jobs to be created and safeguarded. This will form part of your contract with us.
If your application is unsuccessful, we will send you a summary explaining the reasons why, and will advise on any other support we can give.
Payments may be phased and made retrospectively when specific investment and/or employment milestones are reached. These will then be monitored during the investment period and three years beyond the final payment to ensure that the conditions of the finance offer have been met. We will require quarterly claims, and funding will be clawed back if targets are not achieved.