What is Refundable Aid

What is Refundable Aid?

A proportion of the total financial supports provided by the Local Enterprise Office each year must be in a refundable form. 

Accordingly, a portion of priming and expansion grants (up to 35% )may be repayable in which case grants are issued subject to the normal conditions. The Evaluation Committee determine the percentage to be refundable at the time of grant approval

Promoters are then required to make repayments in accordance with agreed schedules. Normally the refund-ability commences 12months after the final draw down of the grant is processed.