Gainsborough Growth Fund

Gainsborough Growth Fund Area Map

The scheme is currently closed with the next stage in development and details will be published here in due course.The Gainsborough Growth Fund aims to support the growth of businesses in the town by providing grants to enable the delivery of a specific development project which will facilitate the creation of new jobs or safeguard existing jobs.

There are two types of grant available as part of this fund.

Details are outlined below:-

Stage 1: Feasibility and Planning Fund

Grants of up to £10k available to assist with professional fees and technical survey work associated with the development of sites and premises or technology and equipment which would support business growth.

Types of activities eligible for support include:

  • Architectural fees to support master planning and building development
  • Survey work undertaken by professionals in support of sites/premises development and planning
  • Professional fees for feasibility work in connection with capital equipment and product development
  • Other potential feasibility costs to be considered on a project by project basis
  • Salaries and fees associated with statutory consents (e.g. planning) cannot be funded.

Stage 2: Development Fund

Grants or loans of between £10-100k available (no more than 25% total project costs) to support capital activities, including investment in sites and premises and/or the purchase of equipment.

Types of activities eligible for support include:

  • Investment in sites and premises (purchase, building works, refurbishment, infrastructure works)
  • Purchase of capital equipment
  • Premises fit-out
  • Applicants will be expected to provide match funding covering as much of the project’s costs as they are reasonably able to, from their own resources and those of third parties such as banks or investors.

Aid offered under this scheme is delivered through the De Minimis Regulations, which are regulations enforced by the European Union. The maximum de minimis funding any recipient can receive is €200,000 (cash grant equivalent) over a 3-year period.

Both new and existing businesses are eligible to apply for the above funding provided that the project takes place in Gainsborough, Lea or Morton (please refer to the Eligible Area Map) and will support the creation of or prevent the loss of jobs.

Please note that the fund cannot support projects that have already started.

Contacts and application process

If you have a project which will help your business to grow and require funding support to make this happen, please contact the Growth Team if you need more information or you can complete an online enquiry and eligibility check.