Grants for Business Investment
The NWDA provides capital investment grants to businesses that are undertaking investment projects but need financial help to go ahead.
Formerly known as Selective Finance for Investment (SFI), these Grants for Business Investment are available for projects across the Lancaster District. Businesses with up to 250 employees are eligible to apply and are assessed against specific criteria.
Assistance is provided to:
- Launch a new business
- Expand / modernise / reorganise an existing business
- Upgrade a business, introducing technological or other innovative improvements
- Establish research and development facilities
- Take the next step from development to production
Small companies that employ less than 50 people can apply for up to 15% of the project costs. Medium sized companies that employ between 50 and 249 people can apply for up to 7.5% of the project costs.
The minimum grant that can be applied for is £10,000, which means that if you are a small company you need to be spending at least £70,000 to trigger the minimum grant of £10,000, and you need to be spending in the region of £135,000 if you are a medium sized business.
Further Information
For further information on the application process, go to nwda.co.uk/finance