What is the grant available for?
The NBV Grant for New Business supports start-up businesses based in Greater Lincolnshire.
The fund can provide capital and revenue grants to registered businesses for a specific project or investment.
You will be required to pay the supplier for the full cost of the project before claiming the grant element and therefore it is imperative that funds are in place to cover these costs prior to submitting the application. No retrospective applications will be considered.
Capital or Revenue or Both?
Grant applications can be made for both Capital and Revenue Projects.
Percentage of project cost
Up to a maximum of 25% of eligible costs.
Any eligibility criteria
If you can say YES to these:
- Ready to start trading (business bank account)
- You will sell business to business or business to consumer (service), NOT retail.
- Your business is based in Greater Lincolnshire
- Your business is registered with Companies House or HMRC
The following areas are known to be NOT eligible items under European Regional Development Fund guidance:
- Vehicles and other mobile infrastructures
- Essential running costs i.e: insurance, statutory obligations, utility bills, salary costs, overheads, recruitment fees, tax
- Accredited training
- Cost for items that go beyond the period of the grant
Further sector restrictions also apply. This list is not exhaustive and further eligibility criteria do apply.
What grant amounts are available?
Grants of between £1000 (minimum) and £2500 (maximum) are available up to a maximum of 25% of eligible costs (whichever is lesser).
Who provides the grant?
European Regional Development Fund grant managed by NBV Enterprise Solutions LTD.
How to apply for the grant?
Stage 1 of the application process is to complete an expression of interest and submit this to NBV (see below for link to form). Basic eligibility checks will be carried out and, if successful at this stage, you will be asked to complete a full application. Full applications consist of an Application Form with supporting evidence in the form of 3 quotations for items required. NBV staff will support you in completion of the application and are on hand to answer questions throughout the application process.
Once submitted the application will be considered by the Grant Panel who will meet to discuss all applications and decide which businesses are supported according to the funds available.