Covid 19 - Capital Grant Scheme

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What is the grant available for?

In response to the COVID-19 crisis, the Cambridgeshire and Peterborough Combined Authority (CPCA) Capital Grant Scheme provides a vital flexible capital subsidy to help registered limited companies.

Eligible projects are those which involve the outright purchase of capital equipment. We cannot accept applications for equipment that will be purchased using hire purchase, lease purchase or any type of credit sale.

 

Capital or Revenue or Both?

Only capital grants available

Percentage of project cost

For grants between £2,000 - £49,999, we will fund up to 80% of the total equipment costs. For grants between £50,000 - £150,000, we will fund up to 50% of the total equipment costs. The total cost of the equipment must be at least £2,600 - we cannot accept applications for equipment costing any less than this.

The grant is capped at £150,000, even if the total project costs exceed £300,000. Despite the UK entering the transition period of European Union exit, we are still subject to EU rules and regulations. As such, the EU state aid rule, De Minimis, still applies although there is a temporary framework in place during the COVID-19 outbreak to further support the economy.

Any eligibility criteria

In order to apply for this grant, both the applicant and the project must be eligible. Eligible applicants are Small to Medium sized Enterprises (SMEs) in the Cambridgeshire and Peterborough Combined Authority (CPCA) area. These are discretionary grants and each application is judged fairly and on its individual merits.

The CPCA area is Peterborough City, and the district council areas of Cambridge City, South Cambridgeshire, Huntingdonshire, Fenland, East Cambridgeshire, Rutland, West Suffolk, North Hertfordshire, Uttlesford, Lincolnshire – South Kesteven and South Holland, Kings Lynn and West Norfolk.

An SME is any registered limited company with fewer than 249 employees, a turnover not exceeding 46 million euros, and a balance sheet that does not exceed 46 million euros.

All applicants must be able to produce evidence of income generation, by means of submitting copies of their accounts.

A grant offer letter MUST be received by applicants BEFORE any deposits are paid or goods ordered. Grants claims must be submitted with evidence of delivery of goods (e.g. picture) and supporting documentation such as delivery notes and invoices. The CPCA aims to pay all grant claims within 14 days of receipt of claim. Provided that the supplier of goods to the grantee is on standard monthly terms, this will allow the grantee to receive the funding from the CPCA prior to paying their supplier, thereby negating potential cashflow issues. CPCA officers will be undertaking random visits to grantees premises after the COVID-19 restrictions have been lifted to ensure that equipment purchased via the grant scheme is installed on the grantees premises.

Any grant offer is at the discretion of the CPCA, The CPCA’s decision is final, and there is no right of appeal.

All applicants must be able to demonstrate how the purchase of grant funded equipment will protect and/or generate new jobs.

Whilst the grant can pay up to 80% of the total project costs, it is a requirement that at least one new job will be protected or created for every £25,000 (or part thereof ) of grant funding. For example, a grant of £50,000 could only be applied for if 2 jobs were to be created or protected.

How to apply for the grant?

Please visit https://capitalgrantscheme.co.uk/ 

Contact information:

Cambridgeshire & Peterborough Combined Authority

https://capitalgrantscheme.co.uk/

Additional information

Closing Date: 31/12/2021

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