How to apply for a Priming or Business Expansion Grant
The first step is to discuss your project (in confidence) with a staff member of Cavan Local Enterprise Office. The project can then be assessed to see if it might be eligible for grant aid (see section on financial assistance dealing with eligibility for grant aid). If the Local Enterprise office cannot grant aid your project it will, in some cases, pass your project details on to a state agency that could possibly grant aid your business
If the project may be eligible for grant assistance you will need to submit a completed and signed grant application form – available from Local Enterprise office or downloadable from website – which should include the following:
- Clear outline of the project;
- Details on Promoter’s background including work experience, educational achievements and any particular qualifications held plus technical knowledge in sector;
- Details of investment planned (This should include a list of equipment to be purchased including prices of each item exclusive of VAT).
- Details of existing and proposed employment levels;
- Markets - this should include a list of existing and potential customers for the products/services proposed and identification of existing competitors.
- Business plan providing greater detail as may be appropriate.
- Financial details including:-
Up-to-date Audited Accounts for previous 2 years (in the case of existing businesses).
Projected Profit & Loss Account and Balance Sheets for the first two years of operation of new business.
Source of balance of finance required for the project – own funds, bank finance , investor capital available and other .
The Local Enterprise Office may then need to discuss certain aspects of your application with you. However, once all the above information is submitted, your application will then be presented at the next available Evaluation Committee meeting. From this point it will take approximately 6-8 weeks for your application to be processed. The Evaluation & Approvals Committee will then make a decision to either approve or reject the application. Applicants will then be notified in writing of the decision of the committee. If your application is approved you will receive a letter of offer along with conditions of grant aid and a checklist of how you can claim the grant assistance approved.