How Does the LEO Select a Project for Grant Assistance?

What Happens Next?

Once your completed application is received it is examined and further information may be requested of you by the Enterprise Officer.

A project summary report is prepared by the Enterprise Officer who presents that along with your detailed application, business plan, and any supporting information to the Evaluation Committee.

Deadlines for applications are usually 3 weeks prior to an evaluation meeting date. Upcoming application deadlines are listed here.The Evaluation Committee can approve an application / level of assistance to be awarded. Other sources of finance will be taken into account.

An application process from point of first contact, can take at least 6-8 weeks, depending on whether your application is deemed ready.

Will all costs as outlined be approved for funding?

Not necessarily, the Committee will make a decision on the basis of your business plan, your contribution to the business, and decide which costs are deemed most appropriate and to what level an award should be made. In some cases, you may be awarded exactly what you applied for, in other cases, you might only be approved a fraction of what you have applied for.

It is essential to be realistic in the costs you are submitting. But please ensure that you have considered all relevant costs that may arise for the 6-9 months ahead as the LEO will not accept applications on a piecemeal basis unless there is real evidence of expansion.

 

Please bear in mind also that whatever costs you apply for, that you need evidence of at least 50% matching funding.

You may also need to bridge 100% of the funding until you have compiled the paperwork to recoup any grant award. Where projects have been approved for funding once, they may come back again to apply for further funding for business expansion plans.

I have been approved a grant from the LEO, what do I do next?

You will have received a letter of offer from the LEO detailing your grant approval, the conditions and various documents that are required to be signed. If you wish to accept the grant and its conditions then you must sign and return the Acceptance Form to us. Once you have done that, you must read and review the other documentation and make an appointment with the LEO to sign the documentation.

 

I have been approved for a grant – when do I get paid?

The grants from the LEO, with the exception of salary grants, are all on the basis of a recoupment system based on vouched expenditure. For example if you have been approved a grant on the provision of equipment then the equipment must be fully paid for, installed and on site and the paperwork in order, with a site inspection carried out by LEO Personnel, for the LEO to pay out the 50% of costs.

 

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